Sale of Sprift Loan and Notice of Final Results

RNS Number : 8908N

Immediate Acquisition PLC

06 June 2022

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE UK VERSION OF THE MARKET ABUSE REGULATION NO 596/2014 WHICH IS PART OF ENGLISH LAW BY VIRTUE OF THE EUROPEAN (WITHDRAWAL) ACT 2018, AS AMENDED.  ON PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.

6 June 2022

Immediate Acquisition Plc

("IME" or "the Company")

Sale of Sprift Loan and Notice of Final Results

The Company is pleased to announce the sale of its loan to Sprift Technologies Limited (the "Sprift Loan"), at face value, for a total cash consideration of £1.05 million to Mark Horrocks, Non-Executive Director of IME. The sale of the Sprift Loan therefore constitutes a related party transaction pursuant to AIM Rule 13, the independent directors (being Tim Hipperson and Simon Leathers), having consulted with the Company's nominated adviser, believe that the terms of the sale of the Sprift Loan are fair and reasonable insofar as shareholders are concerned.

Notice of Final Results

The Company also announces that it anticipates its Final Results for the year ended 31 December 2021 will be published later this week.

For further information please contact:
Immediate Acquisition Plc Tim Hipperson, Non-executive Chairman Simon Leathers, Non-executive Director	Tel:  [phone]
SPARK Advisory Partners Limited (Nomad) Mark Brady Neil Baldwin	Tel: [phone]
SP Angel Corporate Finance LLP (Broker) Abigail Wayne	Tel: [phone]
Buchanan Communications Chris Lane	Tel: [phone]

Immediate Acquisition Plc

Following the disposal of Immedia Broadcast Limited, announced 21 April 2022, the Company became an AIM Rule 15 cash shell and, as such, is required to make an acquisition or acquisitions which constitute(s) a reverse takeover under AIM Rule 14 (including seeking re-admission as an investing company (as defined under the AIM Rules)) on or before the date falling six months from completion of the disposal or be re-admitted to trading on AIM as an investing company under the AIM Rules (which requires the raising of at least £6 million), failing which the Company's Ordinary Shares would then be suspended from trading on AIM pursuant to AIM Rule 40. Admission to trading on AIM would be cancelled six months from the date of suspension should the reason for the suspension not be rectified during that period.

Any failure in completing an acquisition or acquisitions which constitute(s) a reverse takeover under AIM Rule 14, including seeking re-admission as an investing company (as defined under the AIM Rules), will result in the cancellation of the Company's Ordinary Shares from trading on AIM.

 

END

 

 

MSCFLFSERLIRIIF