Itsarm PLC Suspension and Corporate and Financial Update (7391N)
28 September 2023 - 12:00AM
UK Regulatory
TIDMITS
RNS Number : 7391N
Itsarm PLC
27 September 2023
Itsarm plc
Suspension from trading and
Corporate and financial reporting update
Itsarm plc ("Itsarm" or the "Company") announces that, further
to the announcement on 26 July 2023, the Company has not completed
a transaction which qualifies as an AIM Rule 14 transaction.
Accordingly, the Company's ordinary shares will be suspended from
trading on AIM at 7:30 a.m. on 28 September 2023, pursuant to Rule
40 of the AIM Rules.
The Board continues to actively consider several business
acquisition opportunities. Of these, there are two opportunities
that the Board are particularly focused, one of which is a
consumer/retail focused business, with the intention of undertaking
a qualifying AIM Rule 14 (reverse takeover) transaction by 27 March
2024. It should be noted however that these discussions are at an
early stage and there can be no guarantee that they will progress
to a completed transaction. If no such transaction is completed,
admission to trading on AIM will be cancelled at 7:00 a.m. on 28
March 2024.
The Company's audited financial results for the year ended 31
March 2023 ("FY23") are required, pursuant to the AIM Rules, to be
announced by 30 September 2023. Based upon recent conversations
between the Company and its auditors, the Company will not be able
to publish its FY23 Annual Report and Accounts by this date. The
Company's ordinary shares will already have been suspended from 28
September 2023, but such suspension will therefore remain in effect
until the Company has both (a) published an admission document in
respect of an AIM Rule 14 transaction, but also (b) having
published its audited FY23 Annual Report and Accounts, in
accordance with AIM Rule 19.
For further enquiries:
Itsarm plc
David Craven, Non-Executive Chairman +44 (0) 7775 625
Jean-Paul Rohan, Non-Executive Director 451
Zeus (Nomad and Broker) +44 (0) 20 3829
David Foreman / Ed Beddows (Investment Banking) 5000
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END
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