RE: Kanabo Products for sale!22 Sep 2021 09:40
Did anyone notice the note at the bottom of the rns,
Further Details
In an announcement published on 26 July 2021, Kanabo announced the signing of a non-binding term sheet with Materia, to acquire Materia's European businesses (the "Proposed Transaction"). The closing of the Proposed Transaction remains subject to (among other items) due diligence, the entering into of a definitive agreement, the receipt of all requisite third-party approvals and the drafting and approval of a prospectus, as per the Listing Rules. The Company and Materia are currently undertaking the due diligence process and are working on reaching a definitive agreement. The Proposed Transaction, if completed, would constitute a Reverse Take-over under the Listing Rules ("RTO"). Upon the successful completion of the RTO and publication of a prospectus, Kanabo anticipates that it would subsequently re-apply for listing on the Standard Segment of the Official List.