The Trendlines Group 42T expects to receive proceeds of around $8 million if the sale of a portfolio company goes ahead.
According to Trendlines on Oct 29, a non-binding letter of intent for the acquisition was received on Oct 3.
"There has been continuous progress with the due diligence for the transaction," says Trendlines, adding that there is no assurance the deal will be completed.
When the company reported its 1HFY2023 earnings on Aug 3, it also reported that the non-IFRS value of the portfolio at the end of June 2023 was US$152.8 million, 51.3% greater than the fair market value of US$101 million.
Trendlines shares closed at 8.3 cents on Aug 27, down 4.6% for the day and down 17% year to date.
