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Golden Rock Global PLC on Wednesday said it is working ‘diligently’ to secure a suitable acquisition target, as it posted a widening of its interim pretax loss. The Hong Kong-based special purpose acquisition company reported a widening of its pretax loss to £288,713 for the six months that ended June 30, from £46,742 a year earlier. Driving this weakness was a more than doubling of its administrative expenses to $112,066 from $44,109, with professional fees climbing to £95,708 from £29,643. Golden Rock Global continues to be listed as a cash shell, with it actively seeking a suitable acquisition target. Last month, Golden Rock terminated its acquisition discussions with 2Mee Ltd. It said that due to ‘difficult market conditions for small companies in general’ it has been unable to generate sufficient interest from investors regarding transaction. 2Mee is a provider of an influencer messaging application. Shares in Golden Rock rose 9.3% to 2.24 pence on Wednesday afternoon in London, with its share suspension lifted at the end of August. ‘The board appreciates that the company has been suspended for an unexpectedly long period, owing to two potential transactions not having completed, but would like to assure Shareholders that it is working diligently to source a suitable acquisition target. Lifting the company’s suspension is the first step in this process and further announcements on progress in this regard will be made in due course,’ said Golden Rock Global. The company further noted that it has drawn down £180,000 as at June 30 from its up to £300,000 convertible loan facility with NE10 Vodka Ltd, adding that this has been increased to £500,000 post period end. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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