Bioganix has ended talks with potential bidders and it will sell its operating subsidiary instead.
The waste treatment plant operator says it has received offers for the operating business and its assets. The business continues to trade with the help of finance from its bank.
It is unlikely that the money raised from the disposal will leave anything for shareholders.
Bioganix asked for its shares to be suspended at 3.5p a share. That values the company at £280,000.
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