- Elephant Talk (ETAK -6.7%) has retained Dawson James Securities to advise it on its strategic options for its ValidSoft UK subsidiary.
- The group will work with the board's Special Committee to look at options and conduct due diligence. "Although no assurances can be given that a transaction will be completed, the Board believes that it is prudent to now retain a qualified adviser to assist it in evaluating the merits of the various options available to Elephant Talk as we seek to maximize shareholder value," said committee chairman Carl Stevens.
- The company had said it was looking at a sale, JV or merger for the unit with it in a strong strategic position, and believing that Elephant Talk's share price didn't reflect the intrinsic value of the company.
- Previously: Elephant Talk -7.9%, exploring alternatives for ValidSoft unit (Aug. 19 2015)