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Share Name Share Symbol Market Type Share ISIN Share Description
Fiinu Plc LSE:BANK London Ordinary Share GB0033881904 ORD 10P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 14.25 14.00 14.50 14.25 14.25 14.25 0.00 08:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Financial 2.9 -0.4 -2.8 - 38

Immediate Acquisition PLC Sale of Sprift Loan and Notice of Final Results

06/06/2022 4:42pm

UK Regulatory (RNS & others)


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RNS Number : 8908N

Immediate Acquisition PLC

06 June 2022

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE UK VERSION OF THE MARKET ABUSE REGULATION NO 596/2014 WHICH IS PART OF ENGLISH LAW BY VIRTUE OF THE EUROPEAN (WITHDRAWAL) ACT 2018, AS AMENDED. ON PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.

6 June 2022

Immediate Acquisition Plc

("IME" or "the Company")

Sale of Sprift Loan and Notice of Final Results

The Company is pleased to announce the sale of its loan to Sprift Technologies Limited (the "Sprift Loan"), at face value, for a total cash consideration of GBP1.05 million to Mark Horrocks, Non-Executive Director of IME. The sale of the Sprift Loan therefore constitutes a related party transaction pursuant to AIM Rule 13, the independent directors (being Tim Hipperson and Simon Leathers), having consulted with the Company's nominated adviser, believe that the terms of the sale of the Sprift Loan are fair and reasonable insofar as shareholders are concerned.

Notice of Final Results

The Company also announces that it anticipates its Final Results for the year ended 31 December 2021 will be published later this week.

 
 For further information please contact: 
 Immediate Acquisition Plc                      Tel: +44 (0) 203 515 0233 
  Tim Hipperson, Non-executive Chairman 
  Simon Leathers, Non-executive Director 
 SPARK Advisory Partners Limited (Nomad)        Tel: +44 (0) 203 368 3550 
  Mark Brady 
  Neil Baldwin 
 SP Angel Corporate Finance LLP (Broker)        Tel: +44 (0) 207 470 0470 
  Abigail Wayne 
 Buchanan Communications                        Tel: +44 (0) 207 466 5000 
  Chris Lane 
 

Immediate Acquisition Plc

Following the disposal of Immedia Broadcast Limited, announced 21 April 2022, the Company became an AIM Rule 15 cash shell and, as such, is required to make an acquisition or acquisitions which constitute(s) a reverse takeover under AIM Rule 14 (including seeking re-admission as an investing company (as defined under the AIM Rules)) on or before the date falling six months from completion of the disposal 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), failing which the Company's Ordinary Shares would then be suspended from trading on AIM pursuant to AIM Rule 40. Admission to trading on AIM would be cancelled six months from the date of suspension should the reason for the suspension not be rectified during that period.

Any failure in completing an acquisition or acquisitions which constitute(s) a reverse takeover under AIM Rule 14, including seeking re-admission as an investing company (as defined under the AIM Rules), will result in the cancellation of the Company's Ordinary Shares from trading on AIM.

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.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

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(END) Dow Jones Newswires

June 06, 2022 11:42 ET (15:42 GMT)

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