RE: Trades4 Dec 2024 19:41
The Board has completed its review and has concluded that it should now focus its energies on preserving its existing cash balances to pursue other opportunities and as such is, with immediate effect, becoming an AIM Rule 15 cash shell. In the meantime, the Company will seek to realise value from the IP developed to date if it can. As an AIM Rule 15 cash shell the Company will have six months to make an acquisition or acquisitions which constitutes a reverse takeover under AIM Rule 14. Where, within six months, an AIM Rule 15 cash shell does not complete a reverse takeover as set out in AIM Rule 15, the Exchange will suspend trading in the AIM securities pursuant to AIM Rule 40.
interesting here CASH SHELL??? to be that it has to have no assests or interlectual property?