Tadpole Technology, once renowned for storming performances on the Stock Exchange, suspended its listing on Monday in view of a 'significant pending transaction'.
The company has suspended share trading previously, but following a prolonged period of poor financials and given the urgent need for additional funding, analysts say Tadpole is now looking for a white knight.
The SPARCbook laptop designer and manufacturer saw its shares plummet over a two year period, going from around 400 pence to 10 pence. Due to report its year-end results on Wednesday, Tadpole requested ?temporary suspension of trading pending publication of the annual report and accounts?, postponed because of the unidentified transaction.
Share trading won?t resume until Tadpole announces its figures and completes any negotiations that affect its current status.
Last year?s figures made dismal reading, with a #4.3 million pre-tax loss on #23.9 million revenues.
The company?s financial position remains unhappy, despite the introduction in December last year of the first 233MHz Alpha notebook, the ALPHAbook 1. The company is expected to show an improvement this year, but analysts predict it will stay in the red, suggesting that Tadpole needs a cash-rich partner simply to restore stability.
A new management team headed by Bernard Hulme was brought in last year, ousting Tadpole?s founder, George Grey.
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