Notice re. General Meeting

Nanosynth Group PLC

14 June 2023

 

14 June 2023

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ('MAR') which has been incorporated into UK law by the European Union (Withdrawal) Act 2018.  Upon the publication of this announcement via Regulatory Information Service ('RIS'), this inside information is now considered to be in the public domain.

nanosynth group plc

("nanosynth", the "Company" or the "Group")

Notice re. General Meeting

Since convening a General Meeting ("GM") of the Company for 15^th June 2023, the Company has received several expressions of interest from potential investors in the Company.

Following discussions with those interested parties, the Board has decided to provide one of those parties with a limited period to conduct due diligence to finalise their interest in the Company.

Accordingly, the Board has determined that the proposed general meeting to be held at Finncap Cavendish at 10am on Thursday 15^th June 2023 be adjourned to allow the interested party to complete its due diligence. If, following the due diligence, the interested party confirms its interest in making an investment on acceptable terms, the Company will look to call a GM to put the proposed investment to shareholders in order to provide sufficient share issuance authorities. If the proposed investment is not confirmed, in the absence of any other acceptable offers of investment at that time, the Board will reconvene a GM to approve the liquidation of the Company and, subject to the outcome of that meeting, will look to place the Company into liquidation with shareholder support or failing such support, via an application to the courts.

In the meantime, the Company will contact all creditors to provide an update.

Currently, the Company is no longer trading and all staff have been released as of the 16^th May 2023, with just the Board working to find a suitable solution for the Company's future.

ENQUIRIES:

Prospective liquidators' contact details ReSolve Advisory Limited Simon Jagger & Cameron Gunn		[e-mail]
nanosynth group plc Mark Duffin (Chief Executive Officer)		via IFC Advisory
IFC Advisory Ltd		[phone]
Graham Herring
Zach Cohen
Nominated Adviser and Broker	[phone]
Stuart Gledhill
Kasia Brzozowska

 

END