Touchstone Gold Limited Notification of suspension (7632R)
01 July 2015 - 4:00PM
UK Regulatory
TIDMTGL
RNS Number : 7632R
Touchstone Gold Limited
01 July 2015
Touchstone Gold Limited ("Touchstone", "TGL" or the
"Company")
Notification of suspension
GOS Systems and proposed re-admission to AIM
London, 1 July 2015 - Touchstone announces that, in accordance
with Rule 15 of the AIM Rules for Companies ("AIM Rules"), the
Company's shares will today be suspended from trading on AIM from
7.30 a.m. London time as a result of the Company not completing an
acquisition which constitutes a reverse takeover under the AIM
Rules, or otherwise implemented its investing policy within twelve
months of becoming an investing company. In the event that the
Company is unable to implement its investing policy within the next
six months (i.e. by 31 December 2015), admission of the Company's
shares will be cancelled in accordance with Rule 41 of the AIM
Rules.
The Company also announces that it has been unable to publish
its Report & Accounts for the year ended 31 December 2014
within 6 months of the year end as required under the AIM Rules. A
further announcement regarding this will be made in due course.
The Company's investment in GOS Systems ("GOS"), a security
sector focused technology business, is at the core of Touchstone's
investment strategy. In the opinion of the Board, GOS has become an
important and valuable asset. TGL's recently announced investment
in Cambridge Quantum Computing Limited is complementary to the GOS
business, as is TGL's investment in Smart Desk Systems Limited. It
has now been resolved by the TGL Board, subject to shareholder
approval, that:
-- any future acquisitions that might be made will be complementary to GOS;
-- GOS' chief executive officer Jamie Ridealgh be appointed to
TGL's Board as TGL chief executive officer; and
-- the Company's name be changed to GOS Systems.
This is a proposed fundamental change of business constituting a
reverse takeover under Rule 14 of the AIM Rules; it will therefore
be conditional upon the publication of an admission document by the
Company and the approval of the Company's shareholders at a general
meeting. The Company would seek re-admission to AIM as an operating
company and not as an investing company under the AIM Rules.
A further announcement regarding progress of the above proposals
will be made in due course. The Company also looks forward to
providing shareholders with an update on commercial activity post
31st December 2014. The directors note that progress continues to
be better than expected.
About GOS Systems
GOS Systems is a UK security group providing a range of
leading-edge tactical and strategic intelligence gathering and
secure communication solutions for law enforcement, homeland
security and government agencies around the world
GOS' tactical intelligence gathering solutions provide real-time
monitoring of cellular, voice, SMS, and IMSI and IMEI metadata
GOS' safe communications solution offers secure mobile telephony
services to ensure privacy and security for customers
For further information please contact:
Touchstone Gold Limited Tel: +44 20 3301
www.touchstonegold.com 9337
Trevor Wells
finnCap Ltd Tel: +44 20 7220
Ed Frisby / Simon 0500
Hicks
Peterhouse Corporate Tel: +44 20 7469
Finance Limited 0936
Lucy Williams
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCVBLFXEQFZBBX
Transglobe Energy (LSE:TGL)
Historical Stock Chart
From Apr 2024 to May 2024
Transglobe Energy (LSE:TGL)
Historical Stock Chart
From May 2023 to May 2024