Update8 Apr 2020 08:42
8 April 2020
Bould Opportunities plc
("Bould Opportunities" or the "Company")
Corporate Update
Bould Opportunities is pleased to provide an update to shareholders concerning the current
status of the Company and its future plans.
As shareholders will note, the Company was formerly classified as an AIM Rule 15 cash shell
and as such was required to make an acquisition or acquisitions which constitutes a reverse
takeover under AIM Rule 14 ("Reverse Takeover") 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)
within a specified timescale. As neither a Reverse Takeover nor re-admission to trading on
AIM as an investing company under the AIM Rules was achieved within the required
timescale, the admission to trading of the Company’s shares on AIM was cancelled with effect
from 7.00 a.m. today.
For the avoidance of doubt, following the cancellation of the admission to trading on AIM of
the Company’s shares all shareholders remain as shareholders in the Company. The Directors
appreciate the concerns of shareholders in not being able to trade their shares and are
working hard to facilitate admission of the Company’s shares to trading on a recognised stock
exchange as soon as possible, alongside the completion of an appropriate acquisition.
To that end the Company, together with its various professional advisers, has been working
for some time to complete the acquisition of an identified target (the “Target”) in the
biotechnology sector (the “Proposed Transaction”). The Proposed Transaction , if completed,
would comprise the acquisition of a company with a technology and patent portfolio focussed
on the early detection of a specific cancer. This is an exciting opportunity to provide a new
diagnostic test for cancer that addresses unmet clinical need for early detection. Early
detection is proven to increase five year survival rates. Whilst there can be no guarantee that
the Proposed Transaction will complete, the Directors believe that it will provide an
opportunity to develop an exciting company in the biotechnology sector, providing value for
Bould shareholders. For confidentiality reasons no further information on the Target can be
disclosed at the present time.
Despite the constraints imposed by the Covid-19 pandemic and the uncertainties surrounding
timetables that inevitably have arisen, the Directors and the Company’s professional advisers
are working hard to progress the Proposed Transaction to completion, together with the
admission of the Company’s shares to trading on a recognised stock exchange as soon as
possible. Further updates will be provided through the Bould Opportunities website and
announced as appropriate.
Commenting Allan Syms, Chairman of Bould, said: “I am pleased that we have identified an
exciting target in the biotechnology sector and are working towards completing the Proposed
Transaction and admitting the Bou
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