Blockchain Worldwide PLC Proposed Acquisition and Suspension of Listing (0380A)

TIDMBLOC

RNS Number : 0380A

Blockchain Worldwide PLC

23 May 2019

23 May 2019

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

Blockchain Worldwide plc

("Blockchain" or the "Company")

Proposed Acquisition and Suspension of Listing

The Company has made a non-legally binding offer to acquire the entire issued share capital of Entertainment AI, Inc, an artificial intelligence and machine learning focused company operating in the media space ("Acquisition"). The Acquisition is subject to, amongst other things, legal, financial and other due diligence, entry into a legally binding agreement in respect of the Acquisition and certain shareholder approvals being obtained. As no binding agreement has been reached the directors of the Company cannot guarantee that the Acquisition will complete or provide any indication of a likely completion date.

Completion of the Acquisition would amount to a reverse takeover under the Listing Rules. The Company is currently unable to provide full disclosure in relation to the target company and accordingly has requested from the FCA a suspension of its listing with immediate effect. Listing of the Company's ordinary shares will remain suspended until such time as either: the Company publishes a prospectus or an AIM admission document relating to the Acquisition or a restoration request has been submitted and approved by the FCA.

The Company will continue to update the market as and when appropriate.

For information please contact:

 
 Blockchain Worldwide                                     www.bloc-worldwide.com 
  plc 
 Rodger Sargent                                                  via Walbrook PR 
 
 Walbrook PR Ltd        Tel: [phone] or [e-mail] 
 Paul Cornelius                                               Mob: [phone] 
 Sam Allen                                                    Mob: [phone] 
 

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May 23, 2019 10:17 ET (14:17 GMT)