RE: News Vacuum25 May 2018 10:15
I emailed Buchanan yesterday and had a very prompt and informative response. Please see below extract. Hopefully therefore we will have an update in the next few weeks. GLA
I apologise on behalf of the Board of Monchhichi that there has been no communication since the delisting of the shares from AIM on 29 January 2018. We are expecting an update within the next couple of weeks.
In respect of the suspension of the shares last July, this was as a result of media speculation of an investment being made in Sentiance, a Belgian artificial intelligence business.
In December 2017 the Board was expecting to publish a prospectus in connection with that proposed investment and its proposed move from AIM to the main market. Just before finalising the prospectus the UKLA raised some further conditions before permitting a move to the main market. Those conditions had not been fulfilled by 29 January 2018, so with that date being six months since suspension the shares were delisted.
The Board has been reviewing its options to maximise shareholder value in these circumstances and, as mentioned at the outset, we expect an update shortly.
You can disregard the recent Companies House notice which the Company�s lawyers assure us was due to some form not having been filed by the registrar which was dealt with as soon as the notice appeared earlier this month.