RE: Mohh ????14 Sep 2019 14:31
Copied the wrong bit (yours bears reference to concha so no idea where you've copied that from?)
From PSL RNS:
Following Completion, the Company will be classified as an AIM Rule 15 cash shell and as such will be required to make an acquisition or acquisitions which constitutes a reverse takeover under AIM Rule 14 (including seeking re-admission as an investing company (as defined under the AIM Rules)) on or before the date falling six months from completion of the Disposal
OR
be re-admitted to trading on AIM as an investing company under the AIM Rules (which requires the raising of at least £6 million of new equity funding)
failing which, the Company's New Ordinary Shares would then be suspended from trading on AIM pursuant to AIM Rule 40. Admission to trading on AIM of the Company's shares would be cancelled six months from the date of suspension should the reason for the suspension not have been rectified.
6 months trading as a shell. 6 months not trading as a shell. 6 million raise is an option that can be done at ANYTIME. To rectify the suspension this would be the completion of an RTO.
I've deliberately separated bits to make it easier to read as the 6+6 often confuses people and leads them to assume it's 6 months on the market or you have to raise 6 million.