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Springdoo

  • BY: Andrew Hore |
  • POSTED: 11/03/2008 |

Springdoo plans to cancel its Aim quote. 

It is also selling its Carlisle property which it no longer believes is viable to develop as student accommodation. It will receive £1.45m and that will leave Springdoo with cash of around £1.25m.

At 10p a share, the company is valued at £1.94m. Its net asset value was £2.09m at the end of September 2007. Since then other properties have been sold.

An EGM will be held to approve the disposal and the cancellation of the Aim quote.

Originally known as CityBlock the company changed its name to Looks Investment at the end of August 2007. However it was changed to Springdooa few months later. Springdoo is the New Zealand-based video communications company it bought in June. Back in December management said the take-up of video services was encouraging although it was early days.

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