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(Sharecast News) - International Personal Finance said on Wednesday discussions with BasePoint Capital over a possible recommended cash offer for the company were continuing, with the UK Takeover Panel granting an extension to the formal bid deadline.
BasePoint now has until 1700 BST on 24 September to either announce a firm intention to make an offer under Rule 2.7 of the Takeover Code or confirm it did not intend to proceed.
The previous deadline had been set under Rule 2.6(a) following the initial announcement on 30 July.
IPF said the extension request had been made with BasePoint's consent and that further announcements would follow "as and when appropriate."
International Personal Finance said it remained in an offer period under the Takeover Code, with shareholders reminded of the ongoing disclosure requirements that apply during this time.
At 1010 BST, shares in International Personal Finance were down 3.55% at 203.5p.
Reporting by Josh White for Sharecast.com.
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