Avacta Group Regulatory News (AVCT)

19 Apr 2006 15:13

Readybuy PLC19 April 2006 Readybuy plc Further to the announcement made by Readybuy plc (the "Company") on 12 April2006 (the "Announcement") regarding proposals to raise £262,500, beforeexpenses, by the issue of additional equity share capital, the attention ofshareholders is drawn to the proposed investing strategy of the Company as setout in the Announcement. Further to the changes to the AIM Rules in respect of investing companies whichcame into effect on 1 April 2005, the Company is required to complete a reversetransaction or satisfy the Exchange that it has substantially implemented itsInvesting Strategy by 21 October 2006. In the event that this deadline is notmet, the Company's shares will be suspended from trading and, if within the thenfollowing six months, such a transaction has not been undertaken, the admissionof these shares to trading on AIM will be cancelled. As stated in the Announcement, the Concert Party is currently in discussionswith a potential target but, at this stage, has not entered into any bindingagreement. Terms defined in the Announcement have the same meaning in this announcement. For further information, please contact: Colin Davies Readybuy plc 01904 520840David Youngman WH Ireland Ltd. 0161 832 2174 This information is provided by RNS The company news service from the London Stock Exchange