Quote:
Originally Posted by Chad
Press release today regarding Boxnation:
"The Board announces that, following an approach from a significant private investment, it has decided to withdraw its current plan to IPO on AIM and is to carry out a strategic review across the Company, which will see the underlying business and management team strengthened."
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Sounds like it's Rainham Steel that has invested in the company. Perhaps they disagreed with the timing of the IPO route which Richard Brooke was pursuing. It looks like they have recruited a professional manager, Jim McMunn, to review how the channel is run. If McMunn turns the company around, it could be worth substantially more than if it floated tomorrow.