Proposed Transaction and Suspension of Listing

RNS Number : 6762G

Anemoi International Ltd

28 July 2021

 

28 July 2021

This announcement contains inside information as defined in Article 7 of the Market Abuse Regulation 596/2014 and is disclosed in accordance with the Company's obligations under Article 17 of those Regulations.

Anemoi International Ltd

(Reuters: AMOI.L, Bloomberg: AMOI:LN)

(the "Company" or "Anemoi")

Proposed Transaction and Suspension of Listing

The Board of Anemoi are pleased to announce that the Company has signed non-legally binding heads of terms ("Heads of Terms") with the shareholders of id4 AG ("id4") which set out the key terms for the proposed acquisition of the entire issued share capital of id4 (the "Acquisition"). Although the consideration payable by Anemoi for the Acquisition has not yet been determined, it is anticipated that it will be satisfied entirely by the issue of new Anemoi shares to the shareholders of id4.  The Company also announces that it intends to carry out a simultaneous fundraising to raise further working capital for the enlarged group.

id4 is a Software as a Service (SaaS) company specialised in the provision of digital ‎Customer Lifecycle Management ("CLM") solutions for financial and non-financial ‎institutions, with solutions that help institutions to on-board clients digitally in an increasingly ‎complex regulatory environment, whilst concurrently delivering a client user-friendly ‎experience.  id4's Anti Money Laundering ("AML") and Know Your Client ("KYC") software products are specifically designed for use by small and medium sized ‎regulated financial intermediaries, such as brokers, IFAs, independent asset managers, ‎private banks, business process outsourcers, insurance companies, law firms and trust ‎companies. 

id4 was nominated as one of the RegTech 100 in 2020‎.  In addition, id4 ‎received the Best Compliance Solution Award in 2020‎ ‎and the Best Fintech Solution ‎Award in 2021 at the WealthBriefing Swiss Awards‎.‎

Should the Acquisition complete, it would constitute a Reverse Take Over ("RTO") under the Listing Rules and accordingly the Company would apply for the re-admission of its shares to the Official List and the Main Market of the London Stock Exchange.

Therefore, at the request of the Company, the FCA has suspended the Company's listing on the standard segment of the Official List and trading on the Main Market of the London Stock Exchange has also been suspended as of 7.30am today, pending the publication of a prospectus providing further detail on id4 and the Company as enlarged by the Acquisition, or an announcement that the RTO is not proceeding.

There can be no certainty that the Acquisition will take place and it remains subject to, amongst other things, entering into a definitive legal agreement and obtaining all necessary approvals (if required).

A further announcement will be made in due course.

-Ends-

  Further information:

Anemoi International Ltd
Gareth Edwards, Director ([e-mail])

 

END

 

 

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