UK Fund Acquisition News for $ARGQ can happen as s
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Posted On: 07/25/2018 8:18:59 PM
UK Fund Acquisition News for $ARGQ can happen as soon as this month based on this info from the 10Q.
Quote:
Management has decided to acquire the North Eastern UK based advisory firm first as we already have obtained the necessary Regulatory permissions from the UK FCA, we have the funds to purchase and the financial statement audits of this company to be acquired, have been completed. As of May 31, 2018, this advisory firm manages approximately US$38.75 million of funds. The legal documents are currently being drawn up by the Company legal counsel in the UK hence closure of this first acquisition is now very much forthcoming.
After the North Eastern UK based advisory firm is acquired, management plans to then acquire the Isle of Man based advisory firm as soon as the financial statement audits are finalized. As of May 31, 2018, this advisory firm manages approximately US$52.59 million of funds. Whilst waiting for the financial statement audits to come to a conclusion, management (in an effort to gain time) is working with its UK legal counsel on the legal documents required for this acquisition.
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