BRIEF-Allied Minds cuts funding for seven subsidiaries in restructuring
April 5 Allied Minds Plc
* Will undertake a restructuring, reallocating capital and management resources across portfolio and pipeline
* Restructuring will result in discontinued funding for 7 subsidiaries
* A process will be undertaken to seek strategic alternatives for these businesses, which could include sales or transfers of legal entities or assets, or liquidations
* Discontinuation of funding at these subsidiaries will free up approximately $14 million of capital spend budgeted for 2017 Source text for Eikon: Further company coverage: (Reporting By London Bureau)