Science Group takes itself off market amid Brexit uncertainties

Science Group terminated its formal sale process on Friday, citing uncertainties related to the UK's exit from the EU.

The AIM-listed consultancy services outfit, which put itself on the market back in September following a review of its corporate strategy, claimed the "current uncertain political and economic climate" caused by Brexit, coupled with recent stock market volatility, led it to believe its sale process would no longer produce "the most attractive outcome".

After terminating the process, the suspension will be lifted on the share buyback programme of around £1m worth of shares per year.

The group also stated that year-to-date trading had remained in line with its expectations, with a cash balance of £19.3m and net funds of £6.4m as of 30 November.

As of 0900 GMT, Science Group shares had slid 9.77% to 194p.