Prime Active Capital PLC Notification of Cancellation (1690R)

TIDMPACC

RNS Number : 1690R

Prime Active Capital PLC

07 March 2016

Notification of cancellation

Prime Active Capital plc (the "Company") announces that, in accordance with Rule 41 of the AIM Rules and Rule 41 of the ESM Rules, the Company's shares will today be cancelled from trading on AIM and ESM as a result of the Company's shares being suspended from trading for the last six months and the Company not having completing an acquisition which constitutes a reverse takeover under the AIM Rules and ESM Rules, or otherwise implementing its investing policy within eighteen months of becoming an investing company.

Following the cancellation, it is not intended that there will be any market facility for dealing in the Ordinary Shares and no price will be publicly quoted for the Ordinary Shares. The Company will endeavour to facilitate trading in the Ordinary Shares among any remaining Shareholders in due course, but cannot make any assurances that a purchaser will be available or as to the price which may be agreed.

Over the last eighteen months the Company has reviewed a number of investment opportunities but for a number of reasons a transaction was not concluded. PAC has approximately EUR1.1 million in cash on its balance sheet and continues to look at investment opportunities. No investments will be made without shareholder approval and PAC will update shareholders at the next AGM which is expected to be on or before 30th June 2016. At this time resolutions will be put to shareholders to approve an investment, continue as an unlisted investing company or distribute the remaining funds to shareholders.

Ends

Prime Active Capital plc

Dermot Martin

Chairman

[phone]

Nominated adviser / ESM adviser

Davy Corporate Finance

Anthony Farrell

[phone]

This information is provided by RNS

The company news service from the London Stock Exchange

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March 07, 2016 02:00 ET (07:00 GMT)