MNC Strategic Investments PLC Update & notice of cancellation of AIM Admission (1234S)
03 7월 2015 - 6:48PM
UK Regulatory
TIDMMNCS
RNS Number : 1234S
MNC Strategic Investments PLC
03 July 2015
MNC Strategic Investments PLC
3 July 2015
Update and notice of cancellation of Admission to trading on
AIM
The Company provides an update to shareholders and the
market.
Cancellation of trading on AIM
On 5 January 2015 the Company's shares were suspended from
trading on AIM as it had failed to fulfil the requirements of AIM
Rule 15. Following this suspension of trading for six months,
pursuant to AIM Rule 41, the Company's shares will be subject to
cancellation from Admission to trading on AIM with effect from 7.00
a.m. on 6 July 2015.
Reverse Takeover
As shareholders will be aware the Company has been seeking to
either fulfil its investing policy or to effect a reverse takeover
as required under AIM Rule 15. The Board has reviewed a number of
opportunities since it became an investing company in July 2014
however, due to various reasons, have not been able to complete a
transaction in accordance with AIM Rule 15. Accordingly, the
Company's shares will be subject to cancellation from Admission to
trading on AIM with effect from 6 July 2015. The Board reaffirms
its intention to seek an acquisition which falls within the
approved investing policy of the Company, although if an
opportunity falls outside the investing policy then the Board will
consider such opportunities if, in the Board's view, the
opportunity offers good prospects for shareholders.
Strategy
Your Board intends to identify a suitable reverse takeover,
agree appropriate terms for its acquisition, and thereafter to seek
Admission of the enlarged Group to trading on AIM. In the meantime
there will no trading facility upon which shareholders are able to
deal in the Company's shares.
The Board feels that the delisting from AIM will not affect long
term shareholder value, and will enable the Company to complete an
acquisition with a lower overhead base, until a proposed successful
re-admission to AIM.
MNC intends to seek shareholders' approval of such acquisition,
even though by that stage MNC's shares will have been
de-listed.
Future Communications with shareholders
The Company will aim to keep shareholders updated of progress
via its website: www.mncs-inv.com.
For further information please contact:
MNC Strategic Investments plc
Ajay Rajpal 07932 999999
SPARK Advisory Partners (Nominated Adviser)
Neil Baldwin 0203 368 3554
Neil.baldwin@sparkapl.com (www.sparkadvisorypartners.com)
This information is provided by RNS
The company news service from the London Stock Exchange
END
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