Bould Opportunities PLC Corporate Update

TIDMBOU

Bould Opportunities PLC

08 April 2020

8 April 2020

Bould Opportunities plc

("Bould Opportunities" or the "Company")

Corporate Update

Bould Opportunities is pleased to provide an update to shareholders concerning the current status of the Company and its future plans.

As shareholders will note, the Company was formerly classified as an AIM Rule 15 cash shell and as such was required to make an acquisition or acquisitions which constitutes a reverse takeover under AIM Rule 14 ("Reverse Takeover") or be re-admitted to trading on AIM as an investing company under the AIM Rules (which requires the raising of at least GBP6 million) within a specified timescale. As neither a Reverse Takeover nor re-admission to trading on AIM as an investing company under the AIM Rules was achieved within the required timescale, the admission to trading of the Company's shares on AIM was cancelled with effect from 7.00 a.m. today.

For the avoidance of doubt, following the cancellation of the admission to trading on AIM of the Company's shares all shareholders remain as shareholders in the Company. The Directors appreciate the concerns of shareholders in not being able to trade their shares and are working hard to facilitate admission of the Company's shares to trading on a recognised stock exchange as soon as possible, alongside the completion of an appropriate acquisition.

To that end the Company, together with its various professional advisers, has been working for some time to complete the acquisition of an identified target (the "Target") in the biotechnology sector (the "Proposed Transaction"). The Proposed Transaction , if completed, would comprise the acquisition of a company with a technology and patent portfolio focussed on the early detection of a specific cancer. This is an exciting opportunity to provide a new diagnostic test for cancer that addresses unmet clinical need for early detection. Early detection is proven to increase five year survival rates. Whilst there can be no guarantee that the Proposed Transaction will complete, the Directors believe that it will provide an opportunity to develop an exciting company in the biotechnology sector, providing value for Bould shareholders. For confidentiality reasons no further information on the Target can be disclosed at the present time.

Despite the constraints imposed by the Covid-19 pandemic and the uncertainties surrounding timetables that inevitably have arisen, the Directors and the Company's professional advisers are working hard to progress the Proposed Transaction to completion, together with the admission of the Company's shares to trading on a recognised stock exchange as soon as possible. Further updates will be provided through the Bould Opportunities website and announced as appropriate.

Commenting Allan Syms, Chairman of Bould, said: "I am pleased that we have identified an exciting target in the biotechnology sector and are working towards completing the Proposed Transaction and admitting the Bould shares to trading on a recognised stock exchange as soon as possible.

"The Covid-19 pandemic is obviously a concern for all and whilst it is constraining certain elements of the process to complete the Proposed Transaction and listing, we are still able to make progress and are working hard to conclude matters. I look forward to providing further updates in due course."

For further information:

   Bould Opportunities plc                                                          c/o IFC Advisory 

Allan Syms, Chairman

   IFC Advisory Limited (Financial PR & IR)                              [phone] 

Tim Metcalfe [e-mail]

Florence Chandler

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April 08, 2020 02:01 ET (06:01 GMT)