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LONDON - Rockpool Acquisitions Plc (LSE:ROC), a Special Purpose Acquisition Company, announced on Tuesday that its planned acquisition of European Lingerie Group AB (ELG) is now expected to be delayed until the second quarter of 2026.
In its unaudited interim results for the six months ended June 30, 2025, Rockpool reported that ELG’s fundraising efforts are taking longer than anticipated, prompting the company to continue pausing work on the transaction. The board has requested changes to the original heads of terms with ELG, which is currently in breach of its payment obligations toward transaction costs.
Rockpool reported a loss of £109,164 for the six-month period, compared to £100,257 in the same period of 2024. The company’s cash and cash equivalents stood at £212,820 as of June 30, 2025, up from £135,036 a year earlier.
"Despite the delays in ELG raising much-needed additional working capital, the Board is hopeful of seeing completion during the second quarter of 2026 of the acquisition of ELG, associated fund raising, and re-admission," said Richard Beresford, Non-executive Chairman of Rockpool.
The company initially announced the pause in transaction work on June 10, 2025, citing ELG’s slower-than-expected progress with fundraising despite ongoing cost-saving and EBITDA-enhancing initiatives.
Rockpool’s losses for the period were primarily attributed to professional costs related to the ELG transaction, expenses associated with maintaining its listing on the London Stock Exchange’s Main Market, and administrative expenses.
This information is based on a press release statement issued by Rockpool Acquisitions Plc.
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