While the JSE awaits Oxbridge Online`s overdue annual financial report the company has issued a cautionary to investors.
The Johannesburg based Internet company says it is in advanced negotiations that involve the disposal of its subsidiaries and the possible acquisition of certain companies through the issue of additional shares.
If it is to follow this course, Oxbridge will have to issue a sizeable number of shares as the counter has been trading at 2c, which gives the company a negative price-earnings ratio of -0.38.
Should the negotiations prove successful, Oxbridge says it will undergo a change of control and name and the "nature of the business will be amended accordingly".
Oxbridge operates the motoring portal Motorshow.co.za and develops B2B software.
While the negotiations are in progress the company says it is "making every effort to restructure the company wherever possible".
This includes reducing overheads, relocating premises and downsizing its staff. The company said.
Oxbridge has until 31 January to produce its annual financial statement.
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