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Critical Information Group

  • BY: Andrew Hore |
  • POSTED: 30/10/2010 |

Cash shell Critical Information Group has bowed to institutional pressure to return its cash to shareholders.

The company has failed to find a suitable acquisition in the media sector. The board is still working on potential deals but if none of them progress to a point where they are likely to happen before the AGM then shareholders will be given the chance to wind-up the company.

The AGM will be held on 18 November. At the moment the board is advising voting in favour of winding-up or selling the company.

Critical Information did attempt to bid for fully listed Centaur Media but it was rebuffed by its target’s board. That cost nearly £120,000.

Net assets were £2.6m at the end of June 2010, which is equivalent to 87.8p a share.

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.

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