Radicle Projects says that it is in talks with two potential reverse takeover candidates.
Radicle placed its trading subsidiary into administration at the end of August. PPB was appointed as administrator and it is selling assets to pay off creditors. This will take several months and the cash that will be realised is difficult to predict.
Two unquoted Australian companies have approached Radicle about a reversal but its board does say that it is also considering putting the holding company into administration.
On 31 August, the shares were suspended at 2.375p, which values Radicle at £1.23m. The shares are unlikely to return from suspension in the near future because the figures for the year to June 2010 have not been audited.
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