Prime Active Capital PLC Notification of Cancellation (1690R)
March 07 2016 - 2:00AM
UK Regulatory
TIDMPACC
RNS Number : 1690R
Prime Active Capital PLC
07 March 2016
Notification of cancellation
Prime Active Capital plc (the "Company") announces that, in
accordance with Rule 41 of the AIM Rules and Rule 41 of the ESM
Rules, the Company's shares will today be cancelled from trading on
AIM and ESM as a result of the Company's shares being suspended
from trading for the last six months and the Company not having
completing an acquisition which constitutes a reverse takeover
under the AIM Rules and ESM Rules, or otherwise implementing its
investing policy within eighteen months of becoming an investing
company.
Following the cancellation, it is not intended that there will
be any market facility for dealing in the Ordinary Shares and no
price will be publicly quoted for the Ordinary Shares. The Company
will endeavour to facilitate trading in the Ordinary Shares among
any remaining Shareholders in due course, but cannot make any
assurances that a purchaser will be available or as to the price
which may be agreed.
Over the last eighteen months the Company has reviewed a number
of investment opportunities but for a number of reasons a
transaction was not concluded. PAC has approximately EUR1.1 million
in cash on its balance sheet and continues to look at investment
opportunities. No investments will be made without shareholder
approval and PAC will update shareholders at the next AGM which is
expected to be on or before 30th June 2016. At this time
resolutions will be put to shareholders to approve an investment,
continue as an unlisted investing company or distribute the
remaining funds to shareholders.
Ends
Prime Active Capital plc
Dermot Martin
Chairman
+353 1 295 9895
Nominated adviser / ESM adviser
Davy Corporate Finance
Anthony Farrell
+353 1 679 6363
This information is provided by RNS
The company news service from the London Stock Exchange
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