News blog
Atelis
- BY: Andrew Hore |
- POSTED: 21/12/2008 |
- COMMENTS: Add yours
Atelis has put its remaining subsidiary into administration and is looking to acquire another business.
The Israel-based telecoms software development business failed to build up sales and the operations have been wound down.
Atelis is looking at opportunities in the technology and natural resources sectors but it will consider other businesses as well. It is most likely to be a UK business.
The new strategy will be put to shareholders at the AGM in January.
Beaumont Cornish has been appointed as the company’s nominated adviser. Wills & Co have agreed to offer Atelis limited financial support and the company has an unapproved agreement with its creditors.
The shares were suspended on 17 June at 0.725p a share and returned from suspension on 18 December when it published its 2007 annual report and its interim figures. At 1p a share, Atelis is worth £250,000.
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