17 Aug 2015 07:00
Auctus Growth plc
17 August 2015
Auctus Growth plc ('Auctus', the 'Company')
PROPOSED ACQUISITION UPDATE
Further to the announcement made on 22 April 2015 the Auctus board has withdrawn from the negotiations in relation to the Proposed Acquisition of a social media platform. After careful consideration the board opined that proceeding with the transaction would not be in the best interests of the Auctus shareholders.
The suspension of trading in the Company's shares will be lifted pursuant to a market notification by the UK Listing Authority.
In support of the future acquisition plans for the Company the board and founders of Auctus propose to subscribe for up to 244,000 new ordinary shares at a price of GBP 0.50 per share. The proceeds of GBP 122,000 will mitigate the abortive costs incurred in relation to the Proposed Acquisition.
Further announcements will be made in due course.
Contact:
Ross Ainger
0207 389 5010