Rockpool Acquisitions PLC Market Update (6036Q)

TIDMROC

RNS Number : 6036Q

Rockpool Acquisitions PLC

13 September 2017

 
 Press Release   13 September 2017 
 

Rockpool Acquisitions Plc

("Rockpool" or "the Company")

Market Update

Rockpool Acquisitions Plc, the Special Purpose Acquisition Company ("SPAC") company founded in Northern Ireland and formed to undertake the acquisition of a company or business headquartered or materially based in Northern Ireland, updates the market as follows.

Following the Company's admission to the standard listing segment of the Official List of the Financial Conduct Authority and to trading on the London Stock Exchange's main market on 12th July 2017, the Company's well-publicised intention to undertake a Reverse Takeover opportunity in the Northern Ireland market has met with a favourable response.

In addition to its original target list, the Board is pleased be able to say that it has received approaches from a number of companies, active in a range of sectors, with a view to their being considered as potential Reverse Takeover targets. These have been assessed and the Board has further refined its list of potential opportunities. Discussions are underway with a small number of companies which may or may not lead to Rockpool undertaking a Reverse Takeover in line with the expectations outlined in the Prospectus.

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The information contained within this announcement is deemed by the Company to constitute inside information stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain.

For further information:

 
 Rockpool Acquisitions Plc 
 Mike Irvine, Non-Executive                        Tel: [phone] 
  Director                                                        6733 
 Neil Adair, Non-Executive          http://rockpoolacquisitions.plc.uk 
  Director 
 Richard Beresford, Non-Executive 
  Chairman 
 
 
 Shard Capital (Broker) 
 Damon Heath / Eric Woolgar   Tel: [phone] 
                                             9952 
 
 
 Abchurch (Financial PR) 
 Julian Bosdet / Dylan Mark           Tel: [phone] 
  / Alejandra Campuzano                              7741 
                              [e-mail] 
 

Notes to Editors:

Rockpool Acquisitions Plc, a Special Purpose Acquisition Company based in Northern Ireland, whose shares have been admitted to the Official List of the London Stock Exchange by way of a Standard Listing, was formed to undertake the acquisition of a company or business headquartered, or materially based in Northern Ireland with the valuation of up to GBP20 million. Once the first acquisition is completed, the Company may consider further complementary acquisitions.

Rockpool will focus on targeting an acquisition with the potential to grow to a substantial market capitalisation or, in due course, to be attractive to an industry or financial buyer. The objective of the Company following completion of an acquisition will be to inject additional capital to facilitate the expansion of that business.

The Directors are of Northern Irish origin and have over 60 years' combined experience of the local market. Between them they have considerable industry, acquisitions, legal, public markets and financial and operational experience, with good access to potential targets. The Directors believe that Rockpool's ability to provide access to significant amounts of additional capital will be the key element in being able to attract a suitable target for acquisition. It is likely that the acquisition, which Rockpool aims to make within twelve months of Admission, will be treated as a Reverse Takeover requiring the publication of a prospectus and an application to be re-admitted to the Official List of the London Stock Exchange.

Access to capital is a real issue for many fast-growing Northern Ireland businesses. The Directors believe that there will be a number of businesses attracted to the prospect of raising capital through a listed cash-shell vehicle and will actively approach Rockpool seeking a reverse takeover.

For more information about Rockpool, please visit http://www.rockpoolacquisitions.plc.uk

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This information is provided by RNS

The company news service from the London Stock Exchange

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September 13, 2017 03:00 ET (07:00 GMT)