RE: About to blow me thinks!6 May 2020 08:19
In the last RNS:
Confirmation that we are about to become a cash shell very soon and an RTO is in the pipeline, I thought we’d of held the rise better yesterday but suppose you have traders who are in for there 20% should be a good day today
AIM Rule 15
Upon Completion, expected later today, the Company will become an AIM Rule 15 cash shell and, as such, is 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 this date. Alternatively, within such time period, the Company can seek to become an investing company pursuant to AIM Rule 8 (which requires, inter alia, the raising of at least £6 million and the publication of an admission document). In the event that the Company does not complete a reverse takeover under AIM Rule 14 within such six month period or seek re-admission to trading on AIM as an investing company pursuant to AIM Rule 8, the Company's Ordinary Shares would then be suspended from trading on AIM pursuant to AIM Rule 40. Admission to trading on AIM would be cancelled six months from the date of suspension should the reason for the suspension not have been rectified.
With the consideration received from Zenith for the disposal of AAOGC, the Company has sufficient resources for at least the next five months.