Path Investments plc Company Update (3871P)
May 25 2018 - 9:57AM
UK Regulatory
TIDMPATH
RNS Number : 3871P
Path Investments plc
25 May 2018
25 May 2018
Path Investments plc
("Path" or the "Company")
Company Update
Path Investments plc (TIDM: PATH) is pleased to provide the
following update. As previously announced, the Company intends to
undertake a fund raising and to seek admission of the Company's
Ordinary Shares to trading on the AIM Market of the London Stock
Exchange plc ("AIM") (the "Proposed Transaction") in conjunction
with the completion of the acquisition of a 50% participating
interest in an onshore producing conventional gas field, the
Alfeld-Elze II Licence and Gas Field in Germany, located some 22 km
south of Hannover. The Company confirms that progress continues to
be made in preparing for the proposed admission to AIM and in
delivering an efficient financial structure for the Proposed
Transaction, but there can be no certainty at this time that it
will be successfully completed.
In light of the complexities and timeline of the Proposed
Transaction the Company was unable to finalise and publish its
annual financial statements for the period ended 31 December 2017
by 30 April 2018. However, the audit of the Company's annual
financial statements is nearing completion and they are expected to
be finalised and published in early June.
In order to complete the proposed fund raising and seek
admission of the Ordinary Shares to trading on AIM in an orderly
manner the Company's shares will remain suspended from trading on
the Main Market.
Further announcements will be made, as appropriate, in due
course.
This announcement is inside information for the purposes of
Article 7 of Regulation 596/2014.
For further information please contact:
Path Investments plc
Christopher Theis
Andy Yeo 020 3934 6632
Shard Capital (Broker and Financial
Adviser)
Simon Leathers
Damon Heath 020 7186 9900
IFC Advisory (Financial PR & IR)
Tim Metcalfe
Heather Armstrong
Miles Nolan 020 3934 6630
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END
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