Itsarm rises on alternative to proposed compulsory liquidation
24/07/2023 11:53
** Shares of Itsarm Plc ITS.L up as much as 250% at 0.7p
** Co enters conditional proposal that gives it alternative
to proposed compulsory liquidation announced on June 5
** Stock set to post record one-day gain if gains hold
** ITS says proposal allows it to continue as a solvent
company, conditional on winding-up petition withdrawn or
dismissed at court hearing on 26 July 2023
** Says proposal reduces its liabilities, contingent
liabilities and ongoing costs
** Formerly known as In The Style Group, ITS sold its
subsidiary In The Style Fashion Ltd in March 2023
** As of last close, stock down 98.4% YTD
(Reporting by Hani Kollathodi in Bengaluru)
((Hani.Kollathodi@thomsonreuters.com;))