Blockchain Worldwide PLC Proposed Admission to AIM and Cancellation (7701K)

TIDMBLOC

RNS Number : 7701K

Blockchain Worldwide PLC

30 August 2019

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, WITHIN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION

Blockchain Worldwide plc

("Blockchain" or the "Company")

Notice of Cancellation of Listing on the Official List and Proposed Admission to Trading on the AIM Market of the London Stock Exchange ("AIM")

On 23 May 2019 the Company announced that it had 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 part of the proposed transaction, Blockchain intends to apply to the FCA and London Stock Exchange plc ("LSE") requesting the cancellation of listing of the Company's ordinary shares on the standard segment of the Official List and to trading on the LSE's Main Market and will seek admission of the enlarged share capital of the Company to trading on AIM.

Pursuant to Listing Rule 5.2.8, the Company announces that the cancellation notice period has now commenced and cancellation is expected to take effect from 8:00 a.m. on 30 September 2019, following the anticipated completion of the Acquisition and being the intended date of admission of the Company's ordinary shares to trading on AIM.

Whilst transaction matters are at an advanced stage and Blockchain is therefore making this announcement, no binding agreement in respect of the Acquisition has been reached and accordingly, there can be no certainty that the Acquisition will proceed. Shareholders should note that, as set out above, there remain a number of matters upon which completion of the Acquisition is conditional, including, inter alia, shareholder approval. In the event that the Acquisition does not proceed, Blockchain intends to withdraw its cancellation request.

The Company will continue to update the market as 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] 
 

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August 30, 2019 10:34 ET (14:34 GMT)