Carpathian said today it had received a number of preliminary approaches from third parties seeking to pursue a range of possible options following its undertaking of a strategic review of the company.

The AIM-listed company that was set up to invest in central and eastern Europe said that the options being explored included the possibility of a third party: making an offer to acquire the entire issued share capital of the Company; making an offer to acquire specific assets or subsidiaries owned by the Company; or purchasing a significant shareholding from existing shareholders.

It said: 'There can be no certainty that these approaches will lead to an offer for the company being made or any other transaction.

'As stated within the company's interim results announcement, the board continues actively to pursue the appointment of further non-executive directors.

'The board expects to provide a further update in respect of the strategic review and the appointment of further non-executive directors shortly.'

It also said that in view of the strategic review announcement and current market conditions, the board has decided not to pursue its previously announced intention to move to the official list.