Watchstone Extends Canadian Healthcare Unit Sale Deadline Amid Delay

(Alliance News) - Technology firm Watchstone Group PLC said Friday it extended the deadline for ...

Alliance News 29 November, 2019 | 11:46AM
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(Alliance News) - Technology firm Watchstone Group PLC said Friday it extended the deadline for the sale of its Canadian healthcare unit amid delays to the regulatory process.

In September, Watchstone - formerly known as Quindell PLC - said its Canadian subsidiary Quindell Services Inc had agreed to sell PT Healthcare Solutions Corp to a unit of LM Holdings Corp for CAD36.2 million, or GBP22.3 million.

On Friday, Watchstone said it still is awaiting "final change of control consent" for the deal. Consequently, the long-stop completion date has been extended to the end of 2019. The current deadline is Friday.

Shares in Watchstone were 2.4% higher at 147.50 pence in London on Friday.

By Ahren Lester; ahrenlester@alliancenews.com

Copyright 2019 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Watchstone Group PLC 143.00 GBX 0.00 -

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