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Nakama strikes deal to sell all its operating businesses
StockMarketWire.com
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Recruitment services company Nakama has agreed terms to dispose of its four operating businesses, it announced today.
The four arms of the company - Highams, Nakama UK, Nakama Hong Kong, and Nakama Singapore - will be sold to Sanderson, a privately owned recruitment business.
Financial terms of the deal have not been disclosed. The transaction is subject to shareholder approval.
If agreed by investors, the sale will complete on 4 January 2021, Nakama said, after which the company would be considered a 'cash shell' under Alternative Investment Market (AIM) rules.
The company also plans to change its name to Ridgecrest plc.
Under AIM rules, the company would have to make an acquisition within 60 days from the sale of the businesses to Sanderson. If it does not do this, the shares will be suspended from trading.
At 2:48pm: (LON:NAK) Nakama Group PLC share price was 0p at 0.5p
Story provided by StockMarketWire.com
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