UPDATE 1-Neuropharm to mull voluntary liquidation to return cash

* No indicative offer received yet from interested party

* Says continuing talks with potentially interested party

* Shares up 33 pct (Adds details)

March 10 (Reuters) - British autism specialist Neuropharm Group NPH.L said it would explore proposing a members' voluntary liquidation, amid continued uncertainty about an offer for the firm, sending its shares up 33 percent.

The company said it would explore returning cash to shareholders through a possible voluntary liquidation within the next two months and a potential sale of its operating company Neuropharm Ltd, or the programmes in its portfolio.

Neuropharm, which was looking for a sale or merger of the company since November last year, said it had not received any indicative offer from a potentially interested party.

The company, however, said it was in advance stages of talks with the party.

Neuropharm shares were up 3 pence at 12 pence at 0917 GMT on Wednesday on the London Stock Exchange. ($1=.6682 Pound) (Reporting by Anirban Sen in Bangalore; Editing by Vinu Pilakkott)