Abal Group PLC Re Suspension and Update (9670H)
August 06 2019 - 2:31AM
UK Regulatory
TIDMABAL
RNS Number : 9670H
Abal Group PLC
06 August 2019
6 August 2019
Abal Group plc
(the "Company")
(AIM: ABAL)
Suspension of trading on AIM
Corporate Update
The Company became an AIM Rule 15 Cash Shell on 5 February 2019
and, as such, the Company is required to make an acquisition or
acquisitions which constitutes a reverse takeover under AIM Rule 14
within six months of 5 February 2019 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 will then be suspended from trading on AIM pursuant
to AIM Rule 40.
Accordingly, trading in the Company's shares were suspended from
7.30 a.m. today.
Admission to trading on AIM will be cancelled six months from
the date of suspension should the reason for the suspension not
have been rectified pursuant to AIM Rule 41.
The Board continues to focus on acquisition opportunities which
could lead to a reverse takeover under AIM Rule 14 and is currently
in an advanced negotiations with a fintech business which may or
may not be successfully concluded. A further update will made in
due course at the appropriate time."
Enquiries:
Abal plc Tel: +44 (0)7717 436384
Simon Charles
WH Ireland NOMAD and Broker Tel: 0117 945 3471
Mike Coe / Chris Savidge
Peterhouse Capital (Joint broker) Tel: 020 7469 0936
Lucy Williams / Duncan Vasey
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END
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