TRIC Tricor

TIDMTRIC

RNS Number : 2686L

Tricor PLC

30 September 2016

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR").

Tricor plc

("Tricor" or the "Company")

Result of General Meeting

Tricor plc (AIM: TRIC) announces that at its general meeting held earlier today, all resolutions were passed.

Accordingly, following successful completion of the general meeting and passing of the resolutions and further to the announcement of 2 September 2016, the Company confirms that the disposal of the plant and equipment of Tricor Minerals Pte Ltd to KGGD Pte Ltd and the new operating arrangements between Tricor Environmental Pte Ltd and KGGD Pte Ltd will complete in due course (the "Disposal").

As detailed in the Company's circular, published on 5 September 2016, following the Disposal, the Company will be classified pursuant to Rule 15 of the AIM Rules for Companies ("AIM Rules") as an AIM Rule 15 cash shell. The Company will be required to make an acquisition or acquisitions which constitute a reverse takeover transaction under the AIM Rules within six months of becoming an AIM Rule 15 cash shell (which will be deemed to be the date of completion of the Disposal) or be re-admitted to trading on AIM as an investing company under the AIM Rules (which requires the raising of at least GBP6 million), failing which, the Company's ordinary shares would then be suspended from trading on AIM. After six months of suspension, the Company's Ordinary Shares would then be cancelled from trading on AIM.

The Company is currently in ongoing discussions with a number of potential reverse takeover targets. The Board believes that there is a reasonable chance that the Company will undertake a reverse takeover within the permitted six-month timeframe. Consequently, at this time, the Board does not have plans to re-admit the Company to trading on AIM as an investing company.

The Company will make further announcements as appropriate.

Enquiries:

 
Tricor plc 
 Chan Fook Meng 
 CEO                             +65 6236 2985 
Allenby Capital Ltd (Nominated 
 Adviser & Broker)               +44 (0) 20 3328 
 John Depasquale/Richard Short    5656 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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September 30, 2016 02:22 ET (06:22 GMT)

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