15 March 201615 Mar 2016 14:16
It's time to let us know what is going down:
The Acquisition, which constitutes a reverse takeover under Rule 14 of the AIM Rules for Companies, is subject to a number of pre-conditions, including approval by Namibian shareholders, the raising by Namibian of funding for the Acquisition and admission of the Namibian group, as enlarged by the Acquisition, to AIM. In respect of the proposed fundraising, indications of interest have already been received from potential equity investors for the majority of the funds being sought.
In accordance with Rule 14 of the AIM Rules for Companies, shares in the Company are being suspended pending publication of an AIM admission document in respect of the proposed enlarged entity or notification that one of the pre-conditions has not been met and the Acquisition is not proceeding. The long-stop date for completion of the Acquisition is, unless extended by agreement, 15 March 2016.
The Company will provide further updates in due course.