Pinnacle Staffing Group will lose its Aim quotation on 11 July but it hopes to return as a shell.
A major creditor has agreed to swap its debt for 30.88m shares. There are currently 92.6m shares in issue and shareholders will have to agree to the new share issue. The shares were suspended on 9 June at 0.88p each, which valued Pinnacle at £815,000.
Earlier this month, Beever & Struthers was appointed as administrator of Pinnacle’s main subsidiary PHC Luton. That company’s 75% shareholdings in Medic International and Holt Doctors have been sold to Peter Gregory and Tracy Ward for £17,000 in cash.
© 2021 Aim Micro. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.