News blog

Talent Group

• BY: Andrew Hore |
• POSTED: 12/08/2014 |

Talent Group is the latest Aim company to turn itself into a shell and it will seek technology and media acquisitions.

The two TV production subsidiaries are being sold to management. Talent South is being sold for £30,000 plus eight monthly instalments of £8,250 – depending on the liabilities in the balance sheet at the time of the sale. Talent Holdings will be sold in return for the assumption of £1.21m of loans owed by the holding company.
The share price has fallen by one-quarter to 0.75p, but there will be a 13-for-one share consolidation, along with a reduction in the nominal value of the shares, so that is equivalent to a post-consolidation price of 9.75p. A subscription will raise £50,000 at 2.95p, which is little more than one-third of the current share price.

The existing director, except for Anthony Humphreys, will resign and Marcus Yeoman appointed. Each man will receive warrants to subscribe for 338,416 new shares at the subscription price in lieu of fees.

The company’s new name will be Guscio.

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFAugust2014_59.pdf