Reverse Takeover16 Sep 2019 21:29
Certainly might be a surprise........here is an excerpt from Final Results RNS of one of Nigel Burton's other companies Tau Capital (currently suspended) dated 27th June 2019....Where he is currently still on the board as a non-exec director.
...'On 18 October 2018, the previous Board of the Company announced that the disposal of its final asset, an indirect interest in Stopharm LLP, had completed and under AIM Rule 15, the Company was then classified as a cash shell. The result of this was that the Company was required, within six months to make an acquisition which constitutes a reverse takeover under AIM Rule 14 or be re-admitted to trading on AIM as an investing company, failing which the Company's ordinary shares would be suspended. The Company's ordinary shares were suspended on 23 April 2019 and the Company now has up to six months from the date of suspension of the Company's ordinary shares to complete a reverse takeover or be readmitted to trading on AIM as an investing company or the Company's shares will be cancelled from trading on AIM pursuant to AIM Rule 41. Your Board is now working hard on identifying appropriate targets as well as considering other options. '
So......if AXM is the appropriate target that Dr. Nigel Burton, as non-exec director of Tau Capital (i.e. a member of their board) has identified, we will be involved in a reverse takeover before October 26th.
Strap yourselves in !