TRIC Tricor

TIDMTRIC

RNS Number : 5768B

Tricor PLC

04 April 2017

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR").

Tricor plc

("Tricor" or the "Company")

Company update

Further to its announcements on 3 October 2016 and 3 April 2017, the Company provides the following update.

Trading in the Company's ordinary shares on AIM was suspended on 3 April 2017 following the resignation of two non-executive directors. Whilst the Company is in discussions to appoint a new director and is hopeful that this will occur before the end of April 2017, such appointment will not result in the suspension of trading in the Company's shares on AIM being lifted.

In its announcement of 3 October 2016, the Company stated that it had become on that day an AIM Rule 15 cash shell (as defined in the AIM Rules for Companies (the "AIM Rules")). As a result, pursuant to the AIM Rules, the Company was required to make an acquisition, or acquisitions, which constituted a reverse takeover under the AIM Rules (a "Reverse Takeover"), or having otherwise sought re-admission as an investing company with the attendant requirement of raising at least GBP6 million, failing which trading in the Company's shares on AIM would be suspended. The Company did not meet these requirements and therefore trading in the Company's shares was scheduled to be suspended on 4 April 2017.

Pursuant to AIM Rule 15, within six months of becoming an AIM cash shell, the Company must make an acquisition or acquisitions which constitute a reverse takeover under AIM Rule 14. If trading in the Company's shares remains suspended for a period of six months then trading in the Company's shares on AIM will be cancelled, pursuant to AIM Rule 41.

The Company will update shareholders in due course.

 
Tricor plc 
 Chan Fook Meng 
 CEO                             +65 6236 2985 
Allenby Capital Ltd (Nominated 
 Adviser & Broker)               +44 (0) 20 3328 
 John Depasquale/Richard Short    5656 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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April 04, 2017 11:25 ET (15:25 GMT)

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