Re Suspension and Update

RNS Number : 9670H

Abal Group PLC

06 August 2019

 

6 August 2019

Abal Group plc

 (the "Company")

(AIM: ABAL)

Suspension of trading on AIM

Corporate Update

The Company became an AIM Rule 15 Cash Shell on 5 February 2019 and, as such, the Company is required to make an acquisition or acquisitions which constitutes a reverse takeover under AIM Rule 14 within six months of 5 February 2019 or be re-admitted to trading on AIM as an investing company under the AIM Rules (which requires the raising of at least GBP6 million) failing which, the Company's Ordinary Shares will then be suspended from trading on AIM pursuant to AIM Rule 40.

Accordingly, trading in the Company's shares were suspended from 7.30 a.m. today.

Admission to trading on AIM will be cancelled six months from the date of suspension should the reason for the suspension not have been rectified pursuant to AIM Rule 41.

The Board continues to focus on acquisition opportunities which could lead to a reverse takeover under AIM Rule 14 and is currently in an advanced negotiations with a fintech business which may or may not be successfully concluded. A further update will made in due course at the appropriate time."

Enquiries:

Abal plc	Tel: [phone]
Simon Charles
WH Ireland NOMAD and Broker	Tel: [phone]
Mike Coe / Chris Savidge
Peterhouse Capital (Joint broker)	Tel: [phone]
Lucy Williams / Duncan Vasey

 

END

 

 

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