Sign up UNITED KINGDOM
Proactive Investors - Run By Investors For Investors

WideCells Group delays publication of 2017 results as fund-raising talks continue

The stem cells specialist said discussions with its financial advisers with a view to a fundraising have taken longer than originally anticipated, resulting in a delay of the audit process
Stem cells
Additionally, Widecells said it accepted loans from certain directors during April of approximately £115,000

WideCells Group PLC (LON:WDC) said publication of its annual financial statements for the year ended 31 December 2017 has been delayed pending completion of the audit process, and will be later than the required publication date of Monday 30 April 2018.

In a statement, the healthcare services company focused on providing stem cell services, noted that it has been in discussion with its financial advisers with a view to a fundraising, in the absence of which the group is at risk of not being able to continue trading as a going concern.

READ: WideCells Group clinches deal to launch stem cell insurance product in Asia

The firm said these discussions, which have involved negotiations with the group's banks and financial advisers over the possibility of a placement of shares, have taken longer than originally anticipated, resulting in the delay of the audit process.

Widecells said it will update the market in due course.

Additionally, the group said that it accepted loans from certain directors during April 2018 of approximately £115,000, in addition to a loan of £100,000 accepted in October 2017.

View full WDC profile View Profile

WideCells Group Timeline

Related Articles

couple looking at pregnancy test
November 13 2017
The proceeds from the fundraiser will be used to expand in the People's Republic and will invested in product development
Harley Street sign
December 07 2017
The injection will bankroll the continuing technical development of the firm’s first LIGHT system and its installation at the Harley Street Proton Therapy Centre
laboratory
April 12 2018
Mission is to make stem cell treatments accessible and affordable to as many people as possible

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

© Proactive Investors 2018

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use