StockMarketWire.com - Power cost management consultancy Utilitywise said it had put itself up for sale as part of a strategic review.

The company also said it would continue talking to its shareholders and bank regarding a potential equity raising and bank refinancing.

Individual asset sales would also be considered.

The review came amid 'significant and unexpected' challenges, including the over-payment of commissions to an energy supplier, which arose due to 'historically poor operational controls', and weaknesses in industry processes relating to early-termination of customer contracts.

Utilitwise also said that it had also been hurt by energy suppliers introducing lower caps to the amount of commission that third-party intermediaries can charge their customers.


At 9:59am: [LON:UTW] Utilitywise share price was -3.48p at 2.15p



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