Shares of Greater Manchester-based Revolution Bars Group plc fell almost 40% after it announced it is “actively exploring all the strategic options available to it to improve the future prospects of the group.”

Revolution Bars shares fell to around 1.8p to cut the firm’s stock marlet value to just over £4 million. The stock is down almost 70% in 2024.

In a stock exchange statement, the company said: “Revolution Bars Group plc notes recent press speculation. 

“Following a period of external challenges which have impacted the company’s business and trading performance, the board is actively exploring all the strategic options available to it to improve the future prospects of the group.  

“These include a restructuring plan for certain parts of the group, a sale of all or part of the group and any other avenue to maximise returns for stakeholders.

“The company also confirms it is currently engaged with key shareholders and other investors including Luke Johnson in respect of a fundraising.  

“The company continues to trade in line with management’s expectations.

“Further announcements will be made, as appropriate.

“The company is not in talks with, nor in receipt of an approach from, any potential offeror relating to an acquisition of the issued and to be issued share capital of the company.”