(Alliance News) - Technology investor Blockchain Worldwide PLC on Friday said it expects its shares to be cancelled on AIM on September 30 but its acquisition of Entertainment AI PLC is not guaranteed to be completed.
The company requested to cancel its shares should the takeover be completed and then reapply to have the larger share capital admitted to AIM trading. The cancellation period has begun, Blockchain said, and it expects shares to be cancelled on September 30.
While talks in regards to the takeover at an advanced stage, Blockchain said there is no certainty that an agreement could be reached. The acquisition is subject to legal and financial due diligence as well as shareholder approval.
If the takeover is not completed, Blockchain will rescind its request to have its shares cancelled.
Blockchain have been untraded since May, last quoted at 3.70 pence each.
