RE: RNS26 May 2017 08:21
I managed to find it lol.
Orogen plc
("Orogen" or the "Company")
Loan to Thread 35 Limited and temporary suspension
Heads of terms agreed for acquisition
Potential reverse transaction of e-commerce womenswear brand
Orogen plc (AIM: ORO), the recently formed AIM Rule 15 cash shell seeking a reverse takeover candidate, announces it has agreed heads of terms with Thread 35 Limited ("Thread") to acquire Thread's entire issued share capital, subject to certain conditions and due diligence. This acquisition would constitute a reverse transaction under the AIM Rules. Thread operates an e-commerce womenswear brand, targeting 35-55-year-old women under the brand name "Sosandar".
As part of the proposed transaction Orogen has made a secured loan of up to £250,000 ("Loan") to Thread. The Loan is interest free and may be drawn down in two tranches.
The first tranche of £100,000 may be drawn down immediately, whilst the second tranche may only be drawn down on the condition that letters of intent are obtained by the Company from Thread's shareholders to accept the terms of an offer to acquire their shares.
Temporary suspension
Consequently, the Company has requested that trading in its shares is temporarily suspended, pending either the publication of an admission document or until the proposed acquisition negotiations are terminated.