Update on Sale of DTU

RNS Number : 1950K

Zoetic International PLC

31 December 2020

 

Prior to publication, the information contained within this announcement was deemed by the Company to constitute inside information for the purposes of Article 7 under the Market Abuse Regulation (EU) No. 596/2014 ("MAR"). With the publication of this announcement, this information is now considered to be in the public domain.

31 December 2020

Zoetic International plc

("Zoetic" or the "Company" or the "Group")

Update on Sale of DTU

Further to the announcement of 5 November 2020, Zoetic International plc (LSE: ZOE), the London-listed vertically integrated CBD company, confirms that the revised long-stop date for completion of the revised agreement to sell its 75 per cent interest in DT Ultravert ("DTU") to Path Investments plc ("Path"), has not been achieved (the "Transaction"). 

The Company remains committed to its policy of exiting its legacy natural resources activities and the Directors will actively investigate solutions in relation to its interest in DTU, including continuing discussions with Path, as well as its Kansas Nitrogen and other natural resources assets.

Trevor Taylor, Co-CEO of Zoetic, commented, "We are committed to achieve the best deal possible for our shareholders, and will look at all possible options."

**ENDS**

Enquiries

Zoetic International plc   c/o IFC Advisory

Trevor Taylor, Co-CEO

Allenby Capital Limited (Financial Adviser and Broker)                                              [phone]

Nick Harriss (Corporate Finance)

Nick Naylor (Corporate Finance)

Guy McDougall (Equity Sales)

IFC Advisory Ltd (Financial PR and IR)                                                                             [phone]

Tim Metcalfe

Graham Herring

Florence Chandler

 

END

 

 

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