Termination of Acquisition & Update on Suspension

Boston International Holdings PLC

29 September 2023

 

The information contained within this announcement is deemed by the Company to constitute inside information for the purposes of Article 7 of EU Regulation 596/2014 (which forms part of domestic UK law pursuant to the European Union (Withdrawal) Act 2018) ("UK MAR"). Upon the publication of this announcement via a Regulatory Information Service, this information is considered to be in the public domain.

For immediate release

29 September 2023

BOSTON INTERNATIONAL HOLDINGS PLC

("BIH" or the "Company")

Termination of Potential Acquisition of Topic S.A.

Update on Suspension of Listing

Further to the announcement of 27 April 2023 relating to a potential acquisition by the Company of Topic S.A. ("Topic"), a privately-owned, oil and gas exploration and production company, incorporated in Tunisia (the "Potential Acquisition"), the Company announces that it has decided not to proceed with the Potential Acquisition.

Given that the Potential Acquisition, if completed, would have constituted a reverse takeover ("RTO") under the FCA's Listing Rules, the listing of the Company's ordinary shares on the FCA's Official List (standard segment) was suspended, at the request of the Company, on 27 April 2023 and has remained suspended since that date.

Ordinarily, on termination of such discussions, the Company would request that its ordinary shares be restored to listing.  However, the Directors of the Company are actively considering another potential acquisition opportunity in the natural resources sector in Africa which would constitute an RTO and have therefore requested that the Company's shares remain suspended for the time being.

A further announcement will be made by the Company in due course.

For more information, please contact:-

Boston International Holdings Plc
Christopher Pitman, Chairman	[phone]
Beaumont Cornish Limited (Financial adviser)
Roland Cornish / Asia Szusciak	[phone]
Peterhouse Capital Limited (Broker)
Lucy Williams / Duncan Vasey	[phone]

 

END