Done Deal RNS17 Mar 2021 07:02
As previously announced, the Atomic Acquisition amounts to a reverse takeover under the Listing Rules. The Company previously announced on March 16, 2021 that it made a conditional suspension request to the Financial Conduct Authority ("FCA") under Listing Rule 5.3. As the Atomic Acquisition has now completed and the reverse takeover of Target become wholly unconditional, the listing of the Company's common shares will be suspended with effect from 7:30 am today, March 17, 2021 (the "Suspension"). The Suspension is intended to prevent trading in the Company's common shares post completion of the Atomic Acquisition.
Following the Suspension, the Company intends to proceed to make a further application to the FCA under Listing Rule 5.6.19 to cancel the listing of the Company's common shares from the Official List of the Main Market of the London Stock Exchange (the "Cancellation Request").
The Company wishes to expressly confirm that the Cancellation Request will not affect the listing of the Company's securities on the Canadian Stock Exchange, which will remain listed on the Canadian Stock Exchange.
After the Cancellation Request becomes effective, the Company intends for the enlarged COPL group, being the Company (and its subsidiaries) and the Target (and its subsidiaries) under the completed Atomic Acquisition (the "Consolidated COPL Group"), to make an application for admission to the Official List of the London Stock Exchange (by way of a Standard Listing under Chapter 14 of the Listing Rules) and to trading on the London Stock Exchange's Main Market for listed securities (the "Listing Application").
The Company is actively working to progress the Listing Application deliverables which includes a number of regulatory filings with, and approvals from, the FCA, including that of a new prospectus for the Consolidated COPL Group (the "Prospectus"). The Company will be in a position to submit the new Prospectus to the FCA and proceed with the Listing Application once a number of post Atomic Acquisition steps have been completed including the finalisation of the Target's consolidated financial accounts, prepared in accordance with International Financial Reporting Standards.
The Company will continue to update the market as and when appropriate.
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