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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Levrett | LSE:LVRT | London | Ordinary Share | GB00BYW79Y38 | ORD 0.1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 3.50 | 0.00 | 00:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMLVRT
RNS Number : 0897K
Levrett PLC
16 September 2016
Levrett plc ("Levrett" or the "Company")
Possible Acquisition and Suspension of Trading
The Directors of Levrett are pleased to inform shareholders that the Company has signed a non-binding letter of intent to acquire the entire issued share capital of Nuformix Limited, a UK incorporated company operating in the cocrystal technology sector, for new shares in the Company (the "Acquisition").
The Acquisition is subject, inter alia, to the completion of due diligence, documentation and compliance with all regulatory requirements, including the Listing and Prospectus Rules and, as required, the Takeover Code.
The Company intends to convene a General Meeting as soon as practicable in order to seek the shareholder approvals necessary to pursue this opportunity. It should also be noted that if the Acquisition proceeds, further shareholder consent may also be required including to deal with any applicable requirements of the Takeover Code.
Suspension and Application for Listing
The Acquisition, if it proceeds, will constitute a Reverse Takeover under the Listing Rules since, inter alia, in substance it will result in a fundamental change in the business of the issuer.
As the Acquisition will constitute a Reverse Takeover under the Listing Rules, trading in the Company's ordinary shares have been suspended (pursuant to Listing Rule 5.3.1) with immediate effect pending the publication of a prospectus and the application for the enlarged Company to have its ordinary shares admitted to the Official List and to trading on the main market for listed securities of the London Stock Exchange.
The Company is working on the preparation of a prospectus in relation to the Acquisition and will, in due course, be making application for the enlarged Company to have its ordinary shares admitted to the Official List and to trading on the main market for listed securities of the London Stock Exchange.
The Company will update shareholders as the matter progresses.
Enquiries:
Levrett Plc Pascal Hughes, CEO +44 (0) 20 7183 4342 Whitman Howard Limited Niall Baird / Nick Lovering +44 (0) 20 7659 1234
This information is provided by RNS
The company news service from the London Stock Exchange
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September 16, 2016 08:03 ET (12:03 GMT)
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