Large Shareholders Planning to Sell their Holdings in Eterna Plc
Large investors in Eterna Plc are planning to divest from the company, according to the latest details from the board of the company.
In a disclosure statement titled “Disclosure on Prospective Shareholder Divestment”, the management said it has approved the requests of some substantial shareholders to sell their holdings of the company’s shares.
It said “some of our substantial shareholders have formally informed the Board of Eterna Plc (the Company) that they are in negotiations to sell equity holdings in the Company to a ‘New Investor’.
“As part of the process of the prospective sale, the proposed New Investor intends to undertake due diligence exercise on the Company.
“The Board has reviewed the request for due diligence and approved same at its meeting held today (21st December 2020).
“We notify the Exchange in fulfilment of our obligation to report such matters and will continue to do so in line with the guidelines. However, as a shareholder driven transaction, the Company is yet to have full details of the transaction.”