Sondrel (Holdings) Ltd. (GB:SND) has released an update.
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Sondrel (Holdings) plc, a UK-based semiconductor company, has announced a delay in the admission of new ordinary shares due to an anticipated lag in receiving approval from the UK secretary of state as per the National Security and Investment Act 2021. The £5.6 million funding, conditionally raised through a subscription of shares by ROX Equity Partners Limited, is pending approval from both the secretary of state and Sondrel’s independent shareholders. The company expects the shares’ admission to occur after May 31, 2024, and before the long stop date on June 13, 2024.
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