Last checked at 16 Nov 2015 07:00
VELOX3 PLC
("Velox3" or "the Company")
Update on possible suspension
As mentioned in the announcements of 16 February 2015 and 30 September 2015, the Company has until 4 December 2015 to implement its investing policy, failing which, the Company's shares would then be suspended from trading on AIM. Whilst Velox3 continues to actively explore investment opportunities in line with its investing policy, the board now believes that it will not be able to implement the Company's investing policy within the deadline of 4 December 2015 and it therefore expects that trading in the Company's ordinary shares on AIM will be suspended on 7 December 2015 ("Suspension").
Shareholders should be aware that following Suspension, the admission to trading on AIM of the ordinary shares would be cancelled six months from the date of Suspension should the Company not be able, within this timeframe, to complete a transaction which constitutes a reverse takeover under AIM Rule 14 or otherwise implement its investing policy. In these circumstances, the Board would intend to convene a general meeting of the Company to consider whether to continue seeking investment opportunities or to wind up the Company.
For further information please contact:
Velox3
David Mathewson, Executive Chairman +31 (0)20 775 0910
Westhouse Securities +44 (0)20 7601 6100
Antonio Bossi