Nanosynth Group PLC Proposal to Appoint Liquidators (6026Z)
May 16 2023 - 7:28AM
UK Regulatory
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RNS Number : 6026Z
Nanosynth Group PLC
16 May 2023
16(th) May 2023
nanosynth group plc
("nanosynth", the "Company" or the "Group")
Proposal to Appoint Liquidators to nanosynth group plc
Further to its announcement on 6 April 2023, regarding the
Company's financial position, the board of nanosynth ("Board") has
pursued the potential funding options available to it and
determined that these are unlikely to come to fruition within the
required timeframe. Accordingly, after taking independent advice,
the directors of the Company have concluded that the only available
course of action in order to protect creditors is to commence the
insolvent liquidation of the Company via an insolvency process
called a Creditors' Voluntary Liquidation. Accordingly, ReSolve
Advisory Limited has been engaged to undertake the necessary
support in this process.
The Board has resolved that a general meeting of the Member s of
the Company be convened ("General Meeting"), to be held on a hybrid
basis via an online platform and in person at FinnCap, 1
Bartholomew Cl, London EC1A 7BL on a date and time to be advised in
line with the Company's articles of association. The purpose of the
General Meeting is to consider, and if thought fit, pass the
following resolutions, number 1 as a Special resolution and number
2, as an Ordinary resolution:
Resolutions
1. "That the Company be wound up voluntarily"; and
2. "That Simon Jagger and Cameron Gunn of ReSolve Advisory
Limited, 22 York Buildings, London WC2N 6JU, be appointed as Joint
Liquidators of the Company and that they be authorised to act
either jointly or separately ".
A circular convening this general meeting will be published in
the coming days.
The Company has requested that trading in the shares of the
Company on AIM be suspended until further notice and in due course,
the admission of the Company's ordinary shares to trading on AIM is
expected to be cancelled. As a result of the insolvency of the
Company it is unlikely that there will be any residual value to
distribute to shareholders.
Upon the appointment of liquidators, the Company's nominated
adviser will step down with immediate effect. In accordance with
AIM Rule 1, if within one month of that day the Company has failed
to appoint a replacement nominated adviser, which given the
circumstances is unlikely, the admission of its securities to
trading on AIM will be cancelled.
All enquiries relating to the liquidation process should now be
made directly to ReSolve Advisory Limited.
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') which has
been incorporated into UK law by the European Union (Withdrawal)
Act 2018. Upon the publication of this announcement via Regulatory
Information Service ('RIS'), this inside information is now
considered to be in the public domain.
ENQUIRIES:
Prospective liquidators' contact details nanosynth@resolvegroupuk.com
ReSolve Advisory Limited
Simon Jagger & Cameron Gunn
nanosynth group plc via IFC Advisory
Mark Duffin (Chief Executive Officer)
IFC Advisory Ltd +44 20 3934 6630
Graham Herring
Zach Cohen
Nominated Adviser and Broker +44 20 3470 0470
Stuart Gledhill
Kasia Brzozowska
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END
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May 16, 2023 07:28 ET (11:28 GMT)
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