Golden Rock Global PLC Statement re. Suspension (6584S)
17 November 2021 - 06:40PM
UK Regulatory
TIDMGCG
RNS Number : 6584S
Golden Rock Global PLC
17 November 2021
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF ARTICLE 7 OF THE MARKET ABUSE REGULATION (596/2014/EU) AS THE
SAME HAS BEEN RETAINED IN UK LAW AS AMENDED BY THE MARKET ABUSE
(AMENDMENT) (EU EXIT) REGULATIONS (SI 2019/310) ("UK MAR"). UPON
THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS
NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN
PART, DIRECTLY OR INDIRECTLY IN, INTO OR FROM ANY JURISDICTION
WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR
REGULATIONS OF SUCH JURISDICTION.
17 November 2021
Golden Rock Global plc
(the "Company" or "GRG")
Proposed Transaction and Suspension of Listing
GRG, the acquisition vehicle which is seeking opportunities in
the 'FinTech' sector, is pleased to announce that it has signed a
non-legally binding heads of terms ("Heads of Terms") with the
shareholders of BOLT Global Limited (" BOLT GLOBAL ") which set out
the key terms for the proposed acquisition of the entire issued
share capital of BOLT GLOBAL (the " Acquisition "). Although the
consideration payable by the Company to the shareholders of BOLT
GLOBAL has not yet been determined, it is anticipated that it will
be satisfied entirely by the issue of new GRG shares. The Company
also announces that it intends to carry out a contemporaneous
fundraising to raise further working capital for the enlarged
group.
BOLT GLOBAL is a blockchain-based media and decentralised
finance ecosystem which operates Bolt+ (live streaming of media
content) and Bolt X (digital assets wallet) platforms for the
content creator economy. As one of the first media companies to be
focused on bringing affordable live entertainment and accessibility
to web3 technologies to the emerging markets, BOLT GLOBAL currently
has already gathered 3.5 million users across 195 countries.
Should the Acquisition complete, it would constitute a Reverse
Take Over (" RTO ") under the Listing Rules and accordingly, the
Company would apply for the re-admission of its shares to the
Official List and the Main Market of the London Stock Exchange.
Therefore, at the request of the Company, the FCA has suspended
the Company's listing on the standard segment of the Official List
and trading on the Main Market of the London Stock Exchange has
also been suspended as of 7.30am today, pending the publication of
a prospectus providing further detail on BOLT GLOBAL and the
Company as enlarged by the Acquisition, or an announcement that the
Acquisition or RTO is not proceeding. Should the RTO not proceed,
then the Company would need to apply for the suspension to be
lifted and for trading to be restored.
There can be no certainty that the Acquisition will take place
and it remains subject to, amongst other things, formal terms being
agreed and the completion of legal and financial due diligence.
A further announcement will be made in due course.
-Ends-
Further information:
Golden Rock Global plc
Ross Andrews (ross.andrews@rmaconsultancy.co.uk)
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END
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November 17, 2021 02:40 ET (07:40 GMT)
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