Withdrawal from Proposed Transaction

RNS Number : 6685S

Path Investments plc

13 March 2019

 

13 March 2019

Path Investments plc

("Path" or "the Company")

Withdrawal from Proposed Transaction

Further to the announcement made on 1 March 2019, Path Investments plc (TIDM: PATH), provides an update regarding the Heads of Agreement the Company entered into with ARC Marlborough Pty Limited ("ARC") in relation to the proposed acquisition of ARC by the Company (the "Proposed Transaction"), originally announced on 18 January 2019.

As part of its preliminary steps towards a definitive Share Purchase Agreement, Path undertook initial technical, legal and corporate due diligence in relation to ARC, its directors and the mining lease ML80098 in Queensland, Australia. Following this initial work, after due Board consideration and discussion with Path's advisers, the Company has informed ARC of its withdrawal from the Proposed Transaction.

This announcement is inside information for the purposes of Article 7 of Regulation 596/2014.

***ENDS***

For further information:

Path Investments plc

Christopher Theis, Andy Yeo [phone]

Shard Capital (Financial Adviser and Broker)

Simon Leathers, Damon Heath [phone]

IFC Advisory (Financial PR & IR)

Tim Metcalfe, Heather Armstrong, Miles Nolan [phone]

 

END

 

 

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