RE: I have got it..3 Jul 2020 08:31
Eileen13 I shall await your apology in full and in front of everyone now! If it does make a difference to share price on your head be it!
Suspension from trading on the Alternative Investment Market (AIM).
On 28th January 2020, Motif Bio Plc (Motif) announced that the Company and its wholly owned subsidiary, Motif BioSciences Inc, have entered into a loan Amendment and Release agreement with Hercules Capital Inc.
Following the execution of the Hercules Agreement, the Company was reclassified as an AIM Rule 15 cash shell with immediate effect. As such, Motif will be required to make an acquisition which constitutes a Reverse Takeover (RTO) under the AIM Rules within six months, failing which the Company's ordinary shares would be suspended from trading on AIM pursuant to AIM Rule 40 by 28th July 2020. The Company's admission to trading on AIM would then be cancelled six months from the date of suspension, should the reason for the suspension not have been rectified.
On 1st June 2020, Motif has appointed Peel Hunt LLP as strategic adviser to the Company. Peel Hunt has been engaged to provide guidance to the Directors on strategic initiatives including selecting an appropriate Reverse Takeover candidate.
Motif is in negotiations with several RTO candidates in the healthcare sector. At this stage, there can be no assurance that the Company will be able to agree terms with any RTO candidates or complete a RTO transaction.
You should be aware that if you have not sold or otherwise transferred your shares prior to the Suspension from Trading, you will not be able to sell or otherwise deal in them on AIM after that time.
When the Cancellation becomes effective, the Motif shares will no longer be listed on a Recognised Exchange and will no longer qualify to be held within an ISA product. Should you hold these shares within an ISA, we will transfer your Motif shares to your Share Dealing Account once the Cancellation becomes effective. If you do not have a Share Dealing Account, we will arrange to open one for you.
Should you retain your holding of Motify shares, we will notify you on receipt of any further information from the Company.
Should you wish to find more information, please visit the website, www.motifbio.com.