Spicer's management is considering what is to be done with the company as its last remaining operation, IT Konsult, continues to suffer from a slowdown in the Swedish market.
Acting chairman Coert Vorster, who stepped into the breach after Sas du Toit left Spicer, will examine various options open to the company, although he has not elaborated on what these may entail.
Spicer reported a R12 million loss for the year to June, blaming in part the difficult trading conditions in Sweden in the second half of the year for the loss.
Further exacerbating the situation is Spicer's decision to offer the Swedish company as security for continued financing.
Spicer sold off its interests in another of its subsidiaries, UK-based consulting company, MIS, earlier this year after it too was used as security to gain more capital.
In an interview with ITWeb in September, Vorster admitted that the company was dependent on the continued support of financiers.
The share price was trading flat at 3c this morning.
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