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Sorted Group Holdings PLC on Thursday said it may have to enter liquidation or another insolvency process after deciding not to draw on an existing loan facility, as it requested the suspension of trading in its shares on AIM. The Manchester-based shipments and delivery monitoring software, which became a cash shell in April following the sale of its operating business, said it is continuing discussions with potential reverse takeover candidates but warned there is no certainty it will complete a transaction within the six-month deadline required under AIM rules. Sorted said it has been evaluating acquisition opportunities since the sale of its operating subsidiary on April 20, when it became an AIM Rule 15 cash shell. The company said it has no operating cash flows and, although a loan facility with Bidco 3 Ltd remains available, the board believes that drawing on it without discussions on a reverse takeover materially progressing ‘would be contrary to their fiduciary duties’. ‘In the absence of a draw down on the loan facility, the directors have now concluded that the company’s financial position will be such that the board would have to take steps to potentially place the company into liquidation or a similar corporate insolvency process,’ the company said. As a result, the board said it is taking precautionary steps towards a potential liquidation or similar insolvency process while continuing discussions with prospective reverse takeover targets. Given the uncertainty over its financial position, Sorted requested the suspension of trading in its ordinary shares on AIM. The company also said it will not be able to publish its audited results for the year ended December 31, 2025, by the Tuesday next week deadline required under AIM rules. The shares were last quoted at 5.00 pence in London on Thursday. Sorted said it will provide further updates ‘as and when appropriate.’ Copyright 2026 Alliance News Ltd. All Rights Reserved.
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