Millicent Holdings Limited agreed to acquire certain assets and liabilities of Interiors division from The Stanley Gibbons Group plc (AIM:SGI) for £2.4 million on May 9, 2017. The consideration is payable as to £2.25 million on completion and £0.15 million on November 30, 2017. As of July 14, 2017, the Board of Stanley Gibbons has now been informed that the funding arrangements of Millicent for payment of the initial £2.25 million payable on completion of the sale have been delayed as a result of a change in the financial backers of Millicent. The Board of Stanley Gibbons is working with Millicent towards completion of the deal prior to July 31, 2017, the contractual long-stop date for completion of the deal. As of August 1, 2017, the contractual long-stop date for completion of the deal has been extended to August 3, 2017. The proceeds of the Sale will be used to reduce bank debt, support the ongoing rationalization exercise and to provide additional working capital for the Group. Stuart Andrews and Christopher Raggett of FinnCap Ltd. acted as the financial advisors, Tim Redfern and Simon Johnson of FinnCap Ltd. acted as the brokers and Charles Goodwin of Yellow Jersey PR acted as the public relations advisors for Stanley Gibbons. Millicent Holdings Limited cancelled the acquisition of certain assets and liabilities of Interiors division from The Stanley Gibbons Group plc (AIM:SGI) on August 4, 2017.