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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Blockchain Worldwide Plc | LSE:BLOC | London | Ordinary Share | GB00BYX8HX04 | ORD 1P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 3.50 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From Apr 2019 to Apr 2024
TIDMBLOC
RNS Number : 5126P
Blockchain Worldwide PLC
08 February 2019
8th February 2019
BLOCKCHAIN WORLDWIDE PLC
("Blockchain" or "the Company")
Withdrawal from acquisition and update re suspension of shares
The Company has decided not to continue with the proposed acquisition of Chorum Group Limited ('Chorum') announced on 7th November 2018. Political uncertainty has seen greatly reduced levels of activity in London's equity markets and, despite many positive indications, the Company was unable to successfully complete the fundraising for the acquisition. Chorum will now seek private funding, and application will be made to the FCA for a restoration of the Company's ordinary shares to the Official List.
Whilst the Company will continue to seek deals within the blockchain space, it will also consider other high growth opportunities with the wider technology sector.
Rodger Sargent, CEO of Blockchain said, "Chorum is a top class company but the current climate within London's small-cap equity markets is extremely challenging. Costs on the aborted deal have been minimised and Directors continue to draw no salary; Blockchain retains net cash balances of over GBP1m.
We are already actively sourcing a new deal for when the markets are more stable and receptive to the exciting, high growth opportunities we are seeking."
This information contains inside information.
For information please contact:
Blockchain Worldwide www.bloc-worldwide.com plc Rodger Sargent via Walbrook PR Walbrook PR Ltd Tel: 020 7933 8780 or blockchainworldwide@walbrookpr.com Paul Cornelius Mob: 07866 384 707 Sam Allen Mob: 07884 664 686
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
END
MSCUGUWWPUPBGUR
(END) Dow Jones Newswires
February 08, 2019 05:34 ET (10:34 GMT)
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