Libertine Holdings (LIB) has announced it “has concluded that it will not be able to meet its liabilities as they fall due” and consequently appointed administrators whilst stating “the company is now regarded as an AIM Rule 15 cash shell”. So what’s going on here?
Previously writing on ‘clean energy’ technology company Libertine Holdings (LIB), a couple of weeks ago I noted cash now very much the ‘burning issue’ but non-optimism on revised investment and today from the company a “Financing Update” announcement…
Libertine Holdings (LIB) commences an “Engagement of Interpath Advisory”-titled announcement today with, “In line with the company's announcement on 31 July 2024, the board still anticipates receiving the first £110,000 tranche of the loan amount by 16 August 2024 and the second £110,000 tranche by 14 September 2024. This is in advance of the £2 million proposed investment which the company still anticipates being deposited by Reliant FZCO into a third-party UK escrow account (less the loan amount) by September 2024”. So what was the 31st July announcement and why an ‘engagement of Interpath Advisory’?
Libertine Holdings (LIB) has issued a “trading update” including that its “work on the grant funded development with MAHLE Powertrain supported by the Department for Business, Energy and Industrial Strategy has completed” and that it “continues to receive commercial interest from a number of customers across different applications and markets”. So why a share price currently nearly halving to 2.5p in response?
