Shares in Itsarm, a UK-based shell company formerly known as In The Style, surged 250% higher to 0.7p after confirming a raft of board changes that give it a possible survival lifeline.
Itsarm can continue as a solvent company conditional on the winding-up petition presented on 5 June being withdrawn and/or dismissed at the scheduled court hearing on 26 July, or by no later than 31 July.
Additionally, David Craven and Jean-Paul Rohan will be appointed to the board as directors for an annual remuneration of £1, while current directors James Sharp and Richard Monaghan will resign.