RapidCloud International PLC Cancellation of Trading on AIM (5153A)

TIDMRCI

RNS Number : 5153A

RapidCloud International PLC

24 March 2017

RapidCloud International Plc

("RapidCloud", or the "Company")

Cancellation of Trading on AIM

RapidCloud International Plc (AIM: RCI), the enterprise cloud computing services and web-solutions provider based in Southeast Asia, announces that pursuant to AIM Rule 1, the Company's shares will be cancelled from trading on AIM ("Cancellation") at 7:00 a.m. on 27 March.

As announced on the 24 February 2016, the Company received notification from its Nominated Adviser ("Nomad") of its intention to resign with immediate effect. Accordingly, the trading of the shares of the company on the AIM market were suspended.

Pursuant to Rule 1 of the AIM Rules, the Company had one month to appoint a replacement Nomad to prevent the admission of its AIM securities to be cancelled. Unfortunately, despite efforts of the existing Directors, the Company has not been able to secure the official appointment of a replacement Nomad within this timeframe.

The Directors of the Company greatly regret both the initial suspension and the Cancellation of the shares that has now occurred as a direct result of that event.

CONTACTS

 
RapidCloud International Plc   [e-mail] 
Brian Wong Wye Pong 
 Non-Executive Chairman 
Walbrook, Financial PR and IR  Tel: [phone] 
Paul Cornelius                 [e-mail] 
 Sam Allen 
 

About RapidCloud

RapidCloud, provides computing services, web-hosting and proprietary web-solutions, such as web-site building and e-commerce solutions. The Company is based in Southeast Asia and is one of the few solutions providers in the region to deliver its offerings through all three available Cloud Computing segments, i.e. Software-as-a-Service, Infrastructure-as-a-Service and Platform-as-a-Service.

Formed in 1999 the Company has a well-established cloud offering with a customer base of over 42,000. These are predominantly SMEs but also include blue-chip clients such as Deloitte, BAE Systems and Canon, for which RapidCloud's extensive R&D department creates bespoke software solutions.

RapidCloud currently has operations in Malaysia, Indonesia, Singapore, Thailand and the Philippines. According to industry research commissioned by RapidCloud from Frost & Sullivan in 2013, the Cloud Computing industry in Asia Pacific is expected to grow at a CAGR of 49.6% between 2013 and 2015, giving a market size of US45.6 billion by 2015. RapidCloud International plc was admitted to AIM on 14 August 2013.

For further information, please visit www.rapidcloudasia.com

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCBUGDXLDDBGRS

(END) Dow Jones Newswires

March 24, 2017 11:30 ET (15:30 GMT)