Last checked at 6 Sep 2019 12:22
BOSTON INTERNATIONAL HOLDINGS PLC
("BIH" or "the Company")
General Meeting Update
Further to the announcement of 13 August 2019, the Board of BIH, confirms that the Company held its general meeting at 10.30am this morning to consider whether any, and if so what, steps should be taken to deal with the Company's financial situation pursuant to section 656 of the Companies Act 2006 (the "General Meeting").
As a general update to all of those shareholders who were not present at the General Meeting, following the termination of the proposed reverse takeover of Cornhill FX Holdings Limited, the Board of BIH is continuing to review potential new acquisition opportunities.
The Company's investment strategy to date has been to focus on potential acquisitions in the FX sector because of the Board's experience in this industry. Due to a lack of current opportunities in that sector, the Board is now also considering potential targets in alternative sectors. The Board's efforts in identifying a prospective target company or business will not be limited to a particular industry or geographic region and a further announcement will be made at such time as the Company is able to provide further details on any proposed transaction.
Whilst it continues its assessment of potential acquisition opportunities, the Board will prudently manage the Company's remaining cash reserves and minimise its operating expenses in order to put the Company in the best position possible to complete an acquisition.
This announcement contains inside information for the purposes of Article 7 of the Regulation (EU) No 596/2014 on market abuse.
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BIH is a special purpose acquisition company listed on the standard segment of the official list, with shares traded on the main market of the London Stock Exchange. BIH is seeking to acquire a business operating in the foreign exchange ("FX") sector.
Enquiries:
Cairn Financial Advisers
Jo Turner/David Coffman +44 20 7213 0880
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