Negotiations between Avanti Screenmedia and the prospective purchaser of its Malls’ business must be fun at the moment.
Not a day seems to go by without its shares falling (which is a shame as there was a slight rally at the beginning of the week) and the reporting seems to shout “if we don’t sell this we are doomed”
Yesterday The Times wrote…
On AIM, Avanti Screenmedia lost ½p to 1¾p after it said that it was in talks to sell certain parts of its business and that finalising the discussions was critical to its prospects.
And earlier in the week Thomson Financial News reported…
Also on the downside, Avanti Screenmedia shares dropped 0-1/2 penny lower to 2.25 pence in reaction to fundraising moves. In addition, the company is in advanced discussions for the sale of certain parts of the business. There can be no certainty that a sale of assets will be completed and, as such, there may still be an urgent need for further short-term funding, Avanti warned.
We wouldn’t be surprised if the former chairman David Williams wades (back) in and either makes a bid for the Malls himself or at the ridiculously low valuation of the shares attempts something like taking the whole company private.