CTFA Cientifica

TIDMCTFA

RNS Number : 1314V

Cientifica PLC

23 October 2014

Cientifica PLC

("Cientifica" or the "Company")

Update on investments and suspension of shares

Cientifica PLC, the AIM-quoted investment company focused on investment in businesses making use of advanced materials, graphene and emerging technologies, announces that, further to the Chairman's statement in the annual report and accounts for the year ended 31 March 2014, the Board has completed it's review and due diligence on the seven identified prospective investee businesses. The Board has identified three investments which the Directors believe are exciting investment opportunities and the Company is in advanced discussions with each of these companies.

In accordance with Rule 15 of the AIM Rules the Company is required to substantially implement its investing policy within 12 months of becoming an investing company, otherwise the Company's shares will be suspended from trading on AIM. Whilst the Board had been hopeful that it would be possible to conclude these investments prior to the deadline, it now considers that it is unlikely that the contracts will all be completed in time. Therefore, the Company's ordinary shares will be suspended from trading on AIM with effect from 7.30am on 24 October 2014 ("Suspension"). The Company will continue to progress its potential investments with a view to substantially implementing its investing policy, which would result in the lifting of the Suspension. However, there can be no guarantee that this will be achieved. If the Company's investing policy has not been implemented within six months of Suspension, then admission of the Company's Ordinary Shares to trading on AIM will be cancelled.

Tim Godwin, Chairman of Cientifica, commented:

'Since my appointment on 4 September 2014 the Company has made substantial progress in both reducing overheads and in progressing discussions with potential investee companies that are developing ready to market graphene based solutions for key consumer and commercial applications. We are hopeful that these investments can be completed within a short period of the Suspension and believe that they, together with the existing G Heat investment, will represent a balanced portfolio of opportunities within the sector and form an excellent basis on which to build.'

For further information, please contact:

 
 Cientifica PLC 
 Tim Godwin, Executive Chairman           +44 (0) 1604 601002 
 
 Allenby Capital (Nominated Adviser) 
 Nick Naylor/James Reeve                  +44 (0) 203 328 5656 
 
 Peterhouse Corporate Finance (Broker) 
 Lucy Williams / Heena Karani             +44 (0) 207 469 0930 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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