Motif Bio PLC Delay in publication of Final Results (5520Q)
22 June 2020 - 4:00PM
UK Regulatory
TIDMMTFB
RNS Number : 5520Q
Motif Bio PLC
22 June 2020
Motif Bio plc
("Motif Bio" or the "Company")
Delay in publication of Final Results
Motif Bio plc (AIM: MTFB), which has been reclassified as an AIM
Rule 15 cash shell, announces that though the audit process for
2019 has commenced, there will be a delay in the publication of the
Company's audited financial results for the year ended 31 December
2019 (the "Final Results") as a result of the Covid-19 pandemic
(the "Pandemic"). As such, Motif has requested and received an
extension to its filing deadline for the Company's Final Results
from 30 June 2020 to 30 September 2020.
Motif has appointed Crowe U.K. LLP ("Crowe") to replace
Pricewaterhouse Coopers LLP as their auditor. The Pandemic has led
to delays in the process of Crowe's appointment and the timing for
the completion of the audit.
Following its reclassification as an AIM Rule 15 cash shell in
January 2020, the Company is required to make an acquisition which
constitutes a reverse takeover under the AIM Rules by 28 July 2020,
failing which the Company's ordinary shares would be suspended from
trading on AIM pursuant to AIM Rule 40. The Company's admission to
trading on AIM would then be cancelled six months from the date of
suspension, should the reason for the suspension not have been
rectified.
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) 596/2014.
For further information please contact:
ir@motifbio.com
Motif Bio plc
Jonathan Gold (President and Chief
Business Officer)
SP Angel Corporate Finance LLP (NOMAD
& BROKER) +44 (0) 20 3470 0470
David Hignell/Caroline Rowe (Corporate
Finance)
Vadim Alexandre/Abigail Wayne (Sales
& Broking)
Walbrook PR Ltd. (UK FINANCIAL PR
& IR) +44 (0) 20 7933 8780
Paul McManus/ Lianne Cawthorne motifbio@walbrookpr.com
Forward-Looking Statements
When used in this Press Release, the words or phrases "intends,"
"anticipates," "expected to be" or similar expressions are intended
to identify "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995. Such statements
are subject to certain risks and uncertainties including, but not
limited to, changes in economic conditions in the Company's market
area, changes in policies by regulatory agencies, fluctuations in
interest rates, competition that could cause actual results to
differ materially from historical earnings and those presently
anticipated or projected, and other risks described in the
Company's filings with the Securities and Exchange Commission. The
Company cautions readers not to place undue reliance on any such
forward-looking statements, which speak only as of the date made.
The Company advises readers that the factors listed above could
affect the Company's financial performance and could cause the
Company's actual results for future periods to differ materially
from any opinions or statements expressed with respect to future
periods in any current statements. The Company does not undertake,
and specifically disclaims any obligation, to publicly release the
result of any revision which may be made to any forward-looking
statements to reflect events or circumstances after the date of
such statements or to reflect the occurrence of anticipated or
unanticipated events.
This information is provided by RNS, the news service of the
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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
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