RE: Truevalue18 Dec 2019 21:09
Well they named the sector which is more than most shells do.
Following successful Completion of the Proposed Disposal, Richland will have sold its sole project to become 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 under the AIM Rules for Companies) within six months from the Completion date. Alternatively, within such time period, the Company could seek to become an investing company pursuant to AIM Rule 8, which requires, inter alia, the raising of at least £6 million and publication of an admission document. The Company currently intends to seek to identify a suitable reverse takeover transaction in the mining sector.