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LONDON - Rockpool Acquisitions Plc announced Tuesday that its potential reverse takeover of European Lingerie Group AB (ELG) has been further delayed, with completion now unlikely until the second quarter of 2026.
The company cited ELG’s fundraising efforts taking longer than anticipated as the primary reason for the postponement. This represents a significant extension from the previously targeted completion date of early December 2025, which was announced in Rockpool’s Annual Report on May 1.
According to a statement based on Rockpool’s press release, the company received an update from ELG following its Annual General Meeting. While ELG has been making progress with cost-saving and EBITDA-enhancing initiatives, the fundraising challenges prompted Rockpool’s board to extend the current pause in its work on the transaction for at least another 4 to 6 weeks.
This delay follows earlier concerns expressed in Rockpool’s Annual Report that the December 2025 target might become difficult to meet if ELG’s fundraising efforts extended beyond initial projections.
The announcement was deemed by Rockpool to constitute inside information under the Market Abuse Regulation, which is part of UK domestic law pursuant to the Market Abuse (Amendment) (EU Exit) Regulations.
Rockpool’s board indicated it would provide further updates to the market as necessary regarding the potential reverse takeover.
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