An investing company in the technology sector expects to announce a reverse takeover of a software business by the end of the month.

Armour Group, based in Chatham, said it is completing due diligence and seeking shareholder approval for the acquisition.

If the deal with the unnamed target goes ahead, Armour will continue to trade on the AIM market of the London Stock Exchange but probably under a different name.

It said it was hopeful the transaction would be approved but added “there can be no guarantee”.

If the deal is not completed, Armour will leave the AIM.

The business became an investing company in the technology sector in 2014 after it sold its Home and Hong Kong divisions to AHE 100 Limited, a business created by chief executive George Dexter specifically for the takeover.

He then stepped down from the board of the business, which had been a consumer electronics firm, formerly based in Tunbridge Wells.