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NetScientific shares update on strategic review

NetScientific PLC provided an update regarding the strategic review of its options, including a possible sale.

The London-based venture capital firm specializing in healthcare technology and digital health said it received indications of interest in a potential acquisition, however, no formal offers have been made as of Dec. 20.

NetScientific added that it expects to have about £3 million pounds in cash resources Dec. 31. It expects to have central costs of about £2 million and to invest up to about £5 million in its portfolio companies, should they fail to raise external finance, in each of 2019 and 2020.

The company may seek additional funding from its shareholders and take material actions, including seeking a delisting, to further reduce costs.

NetScientific's shares currently trade on the Alternative Investment Market of the London Stock Exchange under the symbol NSCI.