PRL Global (ASX:PRG) said its 45-day period to conduct exclusive due diligence on Centrex (ASX:CXM), including its subsidiary Agriflex, has now ended, according to a Wednesday Australian bourse filing.
The company said it continues to work with the administrators of both companies to prepare a deed of company administration to put to the creditors of Centrex and Agriflex.
Several issues are yet to be resolved, including entering into satisfactory arrangements with key suppliers and counterparties, with significant ground still to make on the key commercial arrangements, the filing added.
The company will provide an update following the meeting of creditors of Centrex and Agriflex on June 16.
The company's shares were up 3% in recent Wednesday trade.
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