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Critical Information Group

  • BY: Andrew Hore |
  • POSTED: 09/02/2011 |

Cash shell Critical Information Group is proposing that it should be wound-up after failing to find a media business to acquire.

Critical Information does have some early stage projects but the management has decided that a members’ voluntary liquidation is in the best interests of shareholders.

The directors, who own 48.3% of the company, will vote in favour of the winding-up resolution at the general meeting on 10 March.

The Aim quotation will be cancelled on 11 March and the first cash distribution should be around 7 April.

At 73.5p a share, Critical Information is valued at £2.21m. Net assets were £2.6m at the end of June 2010, which is equivalent to 87.8p a share. That net asset figure should not have fallen by more than £200,000 since then. 

Critical Information joined Aim on 25 June 2009. It raised £3.01m – the minimum required to gain an Aim quotation for a shell – at 100p a share. The issue costs were £155,000. There was a failed attempt to acquire Centaur Media.

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