- Recruitment consultancy Nakama, which is planning to become a cash shell, posted a first-half loss.

Pre-tax losses for the six months through September amounted to £99,000, compared to a profit of £20,000 year-on-year. Revenue slumped 34% to £3.1 million.

'2020 has been an unprecedented year with the onset of a global pandemic and as such the business has seen a marked decrease in trading across all of its geographical locations,' chief executive Robert Thesiger said.

'On 9 December we announced the sale of our trading businesses to Sanderson and this will allow them to grow under a well-capitalised parent.'

'I believe this disposal is in the best interests of our clients and staff.'

'Nakama will, should the proposed disposal be approved by shareholders, become an AIM cash shell and we will update shareholders on our plans in due course.'

At 9:34am: [LON:NAK] Nakama Group PLC share price was 0p at 0.5p

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