365 365 Agile Group

TIDM365

RNS Number : 1864I

365 Agile Group PLC

26 August 2016

365Agile Group plc

("365Agile", the "Group" or the "Company")

Further re Company Update

Further to the announcement dated 22 August 2016, following the completion of the consultation, the Board has decided to close the Nottingham operations and staff have been given formal notice of termination of employment.

The Company continues to own the IP to the 365Agile suite of software solutions and will continue to receive the payments due from its licence agreement with Castleton Technology plc.

The Company is now deemed to be an AIM Rule 15 cash shell and has six months to make an acquisition or acquisitions which constitute a reverse takeover under Rule 14 of the AIM Rules or otherwise seek readmission as an investing company with the attendant requirement to raise at least GBP6 million on or immediately before such readmission.

Contacts:

 
 365 Agile Group plc                     +44 (0) 345 504 0365 
 Clive Carver, Non-executive Chairman 
 finnCap Limited                         +44 (0)20 7220 0500 
 Geoff Nash/Scott Mathieson 
 MXC Capital Markets LLP                 +44 (0)20 7965 8149 
 Charlotte Stranner/ Marc Young 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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August 26, 2016 02:00 ET (06:00 GMT)

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