By Jana Simmons

LONDON--Plethora Solutions Holdings PLC (PLE.LN) Thursday said it will need new funding if the agreed recommended share-for-share takeover by Hong Kong-listed pharmaceutical investor Regent Pacific Group Ltd. does not become effective.

Shareholders and a court will have to approve the deal on March 2 for it to become effective. Plethora said its cash resources will be exhausted by the end of March.

"Whilst there is no certainty that such funding will be available if the scheme does not become effective and consequently there may be material uncertainty as to whether Plethora could continue to trade as a going concern, there are reasonable grounds for believing that funding may be available," the company said.

The takeover, announced in December, values Plethora at 95.9 million pounds ($144.1 million).

Shares at 0950 GMT are flat at 2.9 pence.

Write to Jana Simmons at jana.simmons@wsj.com

(END) Dow Jones Newswires

February 04, 2016 05:18 ET (10:18 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.
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