In a statement, released this morning, Chisbridge, a company set up by InterQuest chairman Gary Ashworth, CEO Chris Eldridge and chief financial officer David Bygrave, revealed its offer for the company now has the backing of 49.61% of shareholders. More than 50% of shareholders need to the back the deal for the management buy-out to go ahead.

Chisbridge first tabled their bid to buy the company in May, valuing the group at 42p per share.

The closing date for shareholders to back the deal has now been extended to 31 July 2017.