Update and Investing Policy


 

TIDMATEL 
 
RNS Number : 3072D 
Atelis PLC 
30 November 2009 
 

 
 
 
 
FOR IMMEDIATE RELEASE  30 November 2009 
 
 
ATELIS PLC 
("Atelis" or the "Company") 
 
 
UPDATE AND INVESTING POLICY 
 
 
 
 
 
 
UPDATE 
 
 
On 1 October 2009, trading in the Company's shares on AIM was suspended pending 
the announcement of the Company's interim results to 30 June 2009, as required 
to have been done by 30 September 2009 under the AIM Rules. 
 
 
Since then, the Company has been reviewing a number of potential reverse 
transactions in accordance with the Company's investing policy as set out below 
in order to provide a business for the Company going forward; but has not yet 
identified an acquisition to be actively pursued. The Company has also been 
reviewing how to raise working capital since it has not been able to draw down 
sufficient funds on its facility as referred to in the Audited Accounts to 31 
December 2009 and until it does so, the Company will not be in a position to 
announce its interim results. 
 
 
INVESTING POLICY 
 
 
The Company's investing policy is to acquire a single business which the 
Directors believe represents the opportunity to create shareholder value, with a 
focus on the European Community and emerging nations, although such companies 
may operate worldwide..  The focus will be on industrial or trading companies 
and whilst such sectors as biotech or natural resources will not be the primary 
focus of attention, no sectors will be ruled out if they can provide a basis for 
maintaining the listing on AIM. The Company will be an active investor. 
 
 
Such investment may result in Atelis acquiring the whole or part of a company or 
project, in the form of equity, joint venture debt, convertible instruments, 
licence rights, or other financial instruments as the Directors deem 
appropriate. 
 
 
The Directors believe that their broad collective experience in the areas of 
acquisitions, accounting, corporate and financial management together with the 
opinion of consultant experts in the evaluation and exploitation of potential 
investments, which will assist them in the identification and evaluation of 
suitable opportunities, will enable the Company to achieve its objectives. 
Internationally recognised competent persons will be commissioned to prepare 
reports on the projects being considered by the Company, where the Directors 
consider it necessary. The Directors may undertake the initial project 
assessments themselves with additional independent technical advice as required. 
 
 
The Company intends to be a long-term investor and the Directors will place no 
minimum or maximum limit on the length of time that any investment may be held. 
 
 
As the Ordinary Shares are traded on AIM this provides a facility for 
Shareholders to realise their investment in the Company, the Directors may 
consider from time to time other means of facilitating returns to Shareholders 
including dividends, share repurchases, demergers, schemes of arrangement or 
liquidation. 
 
 
A further announcement will be made as and when appropriate. 
 
 
Contact:Rony Cohen, Atelis PLC on 01635 881 649 
 Roland Cornish, Beaumont Cornish Limited on 020 7628 3396. 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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