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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Nanosynth Group Plc | LSE:NNN | London | Ordinary Share | GB00BFX0ZN92 | ORD 0.01P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.092 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMNNN
RNS Number : 6026Z
Nanosynth Group PLC
16 May 2023
16(th) May 2023
nanosynth group plc
("nanosynth", the "Company" or the "Group")
Proposal to Appoint Liquidators to nanosynth group plc
Further to its announcement on 6 April 2023, regarding the Company's financial position, the board of nanosynth ("Board") has pursued the potential funding options available to it and determined that these are unlikely to come to fruition within the required timeframe. Accordingly, after taking independent advice, the directors of the Company have concluded that the only available course of action in order to protect creditors is to commence the insolvent liquidation of the Company via an insolvency process called a Creditors' Voluntary Liquidation. Accordingly, ReSolve Advisory Limited has been engaged to undertake the necessary support in this process.
The Board has resolved that a general meeting of the Member s of the Company be convened ("General Meeting"), to be held on a hybrid basis via an online platform and in person at FinnCap, 1 Bartholomew Cl, London EC1A 7BL on a date and time to be advised in line with the Company's articles of association. The purpose of the General Meeting is to consider, and if thought fit, pass the following resolutions, number 1 as a Special resolution and number 2, as an Ordinary resolution:
Resolutions
1. "That the Company be wound up voluntarily"; and
2. "That Simon Jagger and Cameron Gunn of ReSolve Advisory Limited, 22 York Buildings, London WC2N 6JU, be appointed as Joint Liquidators of the Company and that they be authorised to act either jointly or separately ".
A circular convening this general meeting will be published in the coming days.
The Company has requested that trading in the shares of the Company on AIM be suspended until further notice and in due course, the admission of the Company's ordinary shares to trading on AIM is expected to be cancelled. As a result of the insolvency of the Company it is unlikely that there will be any residual value to distribute to shareholders.
Upon the appointment of liquidators, the Company's nominated adviser will step down with immediate effect. In accordance with AIM Rule 1, if within one month of that day the Company has failed to appoint a replacement nominated adviser, which given the circumstances is unlikely, the admission of its securities to trading on AIM will be cancelled.
All enquiries relating to the liquidation process should now be made directly to ReSolve Advisory Limited.
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.
ENQUIRIES:
Prospective liquidators' contact details nanosynth@resolvegroupuk.com ReSolve Advisory Limited Simon Jagger & Cameron Gunn nanosynth group plc via IFC Advisory Mark Duffin (Chief Executive Officer) IFC Advisory Ltd +44 20 3934 6630 Graham Herring Zach Cohen Nominated Adviser and Broker +44 20 3470 0470 Stuart Gledhill Kasia Brzozowska
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END
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(END) Dow Jones Newswires
May 16, 2023 07:28 ET (11:28 GMT)
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