365 Agile announces that, following suspension of the Company’s ordinary shares of 30 pence each in the capital of the Company (“Ordinary Shares”) to trading on AIM on 27 February 2017 and as a result of the Company having not yet made an acquisition, or acquisitions, which constitute a reverse takeover under the AIM Rules, or having otherwise sought re-admission as an investing company with the attendant requirement of raising at least £6 million, the cancellation of the admission of the Ordinary Shares to trading on AIM is expected to occur at 7.00 a.m. on 28 August 2017 (the “Cancellation”).
The Board remains committed to finding a suitable investment opportunity and continues to evaluate a number of acquisition opportunities to put before shareholders. The Company continues to be funded by the ongoing payments it receives from its licence agreement with Castleton Technology plc.
Shareholders should note that, following the Cancellation becoming effective, there will be no public market or trading facility on any recognised investment exchange for the Ordinary Shares and, accordingly, the opportunity for shareholders to realise their investment in the Company will be much more limited and there will be no public valuation of Ordinary Shares held.
Further, whilst shareholders will still have access to certain information following the Cancellation (such as the Company’s annual results), shareholders will no longer be afforded the protections given under the AIM Rules and the Company will be subject to less stringent reporting requirements. The Company’s website will continue to be a source of information to shareholders.
All information is provided on an as-is basis. Where we allow Bloggers to publish articles on our platform please note these are not our opinions or views and we have no affiliation with the companies mentioned