Despite not yet being the offical owner of Webcentral, 5G Networks chief executive Joe Demase has been appointed as interim CEO following the repayment of some of Webcentral’s debt via a secured loan from 5GN.
5GN was ordered to extend the acquisition offer period to another week due to a complaint by Keybridge Capital, an investment and financial services company, that alleged the telco’s statements “create a highly coercive effect on shareholders to accept the [5G Networks] bid to cause control to pass in a manner inconsistent with that of an efficient, competitive and informed market”.
The offer has now been extended to November 3rd.
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