BNN Technology PLC Corporate Update and De-listing from AIM (4652E)

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RNS Number : 4652E

BNN Technology PLC

09 February 2018

9 February 2018

BNN Technology plc

("BNN Technology", the "Company" and, together with its subsidiaries and entities that are controlled by the Company, the "Group")

Corporate Update and De-listing from AIM

The Board of BNN Technology today announces it has not appointed a replacement Nominated Advisor and the Company's ordinary shares will be de-listed on AIM effective 07:00 on Monday 12 February 2018.

The Company is now at an advanced stage of discussions with two US listed companies with the objective of closing a deal which if delivered should greatly enhance shareholder value.

These discussions currently centre around the acquisition of all or large parts of the Group. The Board has chosen a leading US investment bank to assist with this process and expects to formally appoint them in the coming days.

The Board believes that in pursuing these opportunities they are acting in the best interests of shareholders and stakeholders alike. The Board anticipates being able to update its shareholders shortly and will do so on Company's news page, at http://www.bnntechnology.com/news-and-presentations. Shareholders can also register for email alerts by contacting [e-mail] / [e-mail].

The Directors intend, following the cancellation and de-listing from AIM, to set up a matched bargain arrangement to enable Shareholders to trade their existing holdings of ordinary shares. Further details of this arrangement will be provided to shareholders in due course.

Mark Hanson, Chairman of BNN, said: "We would like to reassure our shareholders that whilst the process of concluding these deals is complicated, these discussions have been ongoing for many weeks now and I am pleased to report that the considerable progress made to date, gives me the utmost confidence that a deal will be agreed soon"

This Announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014 ("MAR").

ENDS

For further information, please contact:

 
                                    [phone] 
 BNN Technology plc                              990 
   Mark Hanson / William Ramsay 
 
                                     [phone] 
 Tavistock (Financial PR)                       3150 
   Jeremy Carey / Andrew Dunn 
 
    Mirabaud Securities Limited 
    (Broker)                         [phone] 
    Peter Krens                                 3362 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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February 09, 2018 06:33 ET (11:33 GMT)