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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Tau Capital Plc | LSE:TAU | London | Ordinary Share | IM00B1VVFG94 | ORD NPV |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.00175 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMTAU
RNS Number : 1829P
Tau Capital PLC
08 October 2019
8 October 2019
Tau Capital plc
("Tau" or "the Company")
Statement re potential cancellation of trading on AIM
Further to the Company's previous announcements, Tau provides the following update in relation to the prospective cancellation of the Company's ordinary shares ("Ordinary Shares") from trading on AIM.
On 18 October 2018, the Company completed the disposal of its indirect interest in Stopharm LLP. Following the completion of this disposal, the Company was classified as an AIM Rule 15 cash shell. Suspension of trading in the Ordinary Shares on AIM ("Suspension") occurred on 23 April 2019, as the Company had not made an acquisition or acquisitions which constituted a reverse takeover under AIM Rule 14 ("Reverse Takeover") or been re-admitted to trading on AIM as an investing company under the AIM Rules.
As previously announced, following Suspension on 23 April 2019, if neither a Reverse Takeover nor re-admission to trading on AIM as an investing company under the AIM Rules are completed within six months of the date of Suspension, then the Ordinary Shares will be cancelled from trading on AIM pursuant to AIM Rule 41.
As noted in the Company's interim results for the six months ended 30 June 2019, the Company has reviewed a number of potential opportunities for a Reverse Takeover, negotiations on several of which are continuing to progress.
Nevertheless, on the basis that neither a Reverse Takeover nor re-admission to trading on AIM as an investing company under the AIM Rules is likely to be completed by 23 October 2019, cancellation of the admission to trading of the Ordinary Shares on AIM is expected to take effect from 7.00 a.m. on 24 October 2019.
The Board is considering a number of possibilities for the Company, which include a potential application for the Ordinary Shares to be admitted to trading on AIM at a later point in time, or applying for admission to a different exchange.
For further information, please contact:
FIM Capital Limited Tel: +44 (0) 1624 681250 Philip Scales Nominated Adviser and joint-broker Tel: +44 (0) 20 3328 5656 Allenby Capital John Depasquale / Alex Brearley Joint-broker Tel: +44 (0) 20 7469 0930 Peterhouse Capital Limited Lucy Williams / Eran Zucker
ENDS
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.
END
STRUWSORKVARRAA
(END) Dow Jones Newswires
October 08, 2019 10:00 ET (14:00 GMT)
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