Cloudified Holdings Limited Notice of Interim Result & Restoration of Trading

RNS Number : 3849M

Cloudified Holdings Limited

29 April 2024

 

This announcement contains inside information for the purposes of Article 7 of the UK version of Regulation (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended ("MAR"). Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.

 

Cloudified Holdings Limited

("Cloudified" or the "Company")

Notice of Interim Result and Restoration of Trading

Cloudified Holdings Limited announces the following update.

The Company expects to release its interim results for the six months ended 30 September 2023 on 30 April 2024 following which it anticipates that trading in the Company's shares will be restored.

 

Following the sale of its trading subsidiaries, Falanx Cyber Defence Limited and Falanx Cyber Technologies Limited, the Company has been classified as a cash shell under AIM Rule 15.

 

As a cash shell, the Company is required to make an acquisition, or acquisitions, which constitute a reverse takeover under AIM Rule 14 on or before the date falling six months from becoming a cash shell was which on 12 December 2023. Failing that, the Company's Ordinary Shares will be suspended from trading on AIM pursuant to AIM Rule 40 on 13 June 2024. If the Company's shares remain suspended for a further six months, admission of the Company's shares would then be cancelled.

 

 

Future strategy

 

The Directors are seeking to acquire another company or business in exchange for the issue of Ordinary Shares in a single transaction (a "reverse takeover" or "RTO"), which will only be able to go forward with Shareholder approval. In considering the Company's future strategy, the Directors will seek to identify opportunities offering the potential to deliver value creation and returns to Shareholders over the medium to long-term in the form of capital and/or dividends. The Company continues to review possible opportunities although at this stage there is no certainty that these opportunities will lead to a transaction.

 

Pursuant to Rule 14 of the AIM Rules, a reverse takeover transaction would require the publication of an Admission Document in respect of the proposed enlarged entity and would be conditional upon the consent of Shareholders being given at a general meeting.

 

Market conditions may have a negative impact on the Company's ability to make an acquisition or acquisitions, which would constitute a reverse takeover under AIM Rule 14. There is no guarantee that the Company will be successful in meeting the AIM Rule 14 deadline as described above.

 

If no suitable acquisitions can be identified on a timely basis, the Directors will consider appointing a liquidator and entering a members' voluntary liquidation to return any remaining cash to Shareholders.

 

 

Enquiries:

 

Cloudified Holdings Limited Ian Selby Executive Director	Via IFC
WH Ireland Mike Coe/ Sarah Mather (Nomad) Fraser Marshall (Corporate Broking)	+ 44 (0) 207 220 1666
IFC Advisory Ltd Financial PR & IR Graham Herring / Zach Cohen	[phone]

 

 

 

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