Stock Market News
CSF Group shares jump as long awaited sale nears completion
Data centre management firm CSF Group has granted Bridge Data Centres Malaysia Holdings an extension to complete the share sale and purchase agreement of CSF CX Sdn Bhd.
The two parties are working to complete the agreement by 31 May after the purchaser, Bridge Data Centres Malaysia Holdings, requested additional time to deal with the final regulatory steps of the process.
The disposal was originally reported by CSF Group in September.
AIM traded company CSF Group reported in November that the agreement has seen CSF Group's subsidiary CF International Limited transfer its shareholdings in CSF CX in exchange for approximately £0.34m, conditional on its completion.
Despite the extended deadline for the finalisation of the agreement, all previous arrangements remain in place.
Following the completion of the agreement, CSF Group is anticipating the receipt of banking facilities and rental deposits worth approximately £1m, at current exchange rates, in connection with its CX2 and CX5 data centres.
Furthermore, the company commented in September that it would continue with its core maintenance and data centre design and development business, with a particular focus on its CX1 facility in Malaysia which has a total net floor area of approximately of 45,500 square feet and has been operational since 2003.
As of 1325 BST, CSF Group's shares were up 14% at 1.43p.
The two parties are working to complete the agreement by 31 May after the purchaser, Bridge Data Centres Malaysia Holdings, requested additional time to deal with the final regulatory steps of the process.
The disposal was originally reported by CSF Group in September.
AIM traded company CSF Group reported in November that the agreement has seen CSF Group's subsidiary CF International Limited transfer its shareholdings in CSF CX in exchange for approximately £0.34m, conditional on its completion.
Despite the extended deadline for the finalisation of the agreement, all previous arrangements remain in place.
Following the completion of the agreement, CSF Group is anticipating the receipt of banking facilities and rental deposits worth approximately £1m, at current exchange rates, in connection with its CX2 and CX5 data centres.
Furthermore, the company commented in September that it would continue with its core maintenance and data centre design and development business, with a particular focus on its CX1 facility in Malaysia which has a total net floor area of approximately of 45,500 square feet and has been operational since 2003.
As of 1325 BST, CSF Group's shares were up 14% at 1.43p.
Related share prices |
---|
CSF Group (CSFG) share price |
Stock News headlines are gathered from financial news sources around the web. Views and opinions on each item are from their respective authors and website. They are not opinions of LiveCharts.co.uk
Get a free widget for your website with our latest headlines.
You can now add our live prices and new headlines to your website.The news widget features quotes for Oil prices, spot Gold price and Indices plus a choice of news channel for healines.
Top Shares pages
- Share price quotes
- Share charts
- Share watch list
- Company Results Calendar
- Top Large UK Shares
- UK Market Sectors
- Stock market news
- Company news
- Share tips
- A-Z company search
More share features
POPULAR Share Prices
- Royal Mail share price
- Lloyds share price
- HSBC share price
- Barclays share price
- Prudential share price
- Santander share price
- NEXT share price
- Diageo share price
- BP share price
- Vodafone share price
- British Airways
- Centrica share price
- Tesco share price
- Taylor Wimpey Share Price
- National Grid
- GKP Share Price
- Marks and Spencer
- Rolls Royce
- Rio Tinto
- THG Share Price
- Aviva Share Price
- Boil Share price
- Easyjet Share Price
- Genedrive Share Price
- SSE Share Price
- IAG Share Price
- Boohoo share price
- HE1 share price
- AVCT share price
- BOOM share price