Argentex Group Responds to Media Speculation
Why we think this is neutral
The RNS announcement does not contain any of the mandatory news types specified, such as contract news, order news, trading update, financing, funding, annual results, asset sale/disposal, flow testing, licence news, or delisting. The announcement simply responds to media speculation and does not provide any substantive business updates.
Key Points
- Argentex received a non-binding proposal from Lavide Holding N.V. to make an equity investment
- The Board has unanimously rejected the proposal as it does not meet Argentex's funding requirements
Summary
Argentex Group PLC has received a highly preliminary non-binding proposal from Lavide Holding N.V. to make an equity investment in the company. However, the Board has unanimously rejected the proposal as it does not constitute an offer for the entire issued share capital and the proposed funding is materially below the level Argentex requires to continue trading and fulfil its ongoing regulatory obligations.