Guscio facing cancellation on AIM

(ShareCast News) - Guscio warned the market it was facing cancellation on AIM on Friday, as the final deadline to implement its investing policy loomed.The AIM-traded firm's shares had been suspended from trading on 9 September, as it had not made an acquisition which would constitute a reverse takeover, or otherwise implemented its policy by the deadline of 8 September.At the time, the company had six months to implement the investing policy, or face cancellation of its ordinary shares on AIM."[Guscio] will not be able to complete a reverse takeover in accordance with AIM Rule 14, nor implement its investing policy to the satisfaction of the exchange in accordance with AIM Rule 15 by 9 March, and accordingly trading in the company's ordinary shares on AIM will be cancelled purusant to AIM Rule 41 on that date," the firm's board said in a statement.It claimed it was in advanced discussions regarding two potential acquisitions in the educational technology sector which, if completed, would constitute a reverse takeover.The board said it intended to complete those acquisitions as soon as possible, and proposed to reapply for admission to AIM as part of any transaction.