Last checked at 5 Apr 2023 15:11
5 April 2023
Golden Rock Global PLC
Termination of discussions with Bolt Global Limited ("BOLT")
and
Restoration of Trading
Golden Rock Global PLC (LSE: GCG) (the "Company" or "GRG") the acquisition vehicle which is seeking opportunities in the 'FinTech' sector, announces that it has terminated discussions with BOLT.
The Company announced on 17 November 2021, that it had entered into non-legally binding heads of terms with the shareholders of BOLT to acquire the entire issued share capital of BOLT, the blockchain-based media and decentralised finance ecosystem ("Proposed Transaction"). The Company further announced that should the Proposed Transaction complete, it would constitute a Reverse Take Over under the Listing Rules and accordingly, the Company sought a suspension of trading in the ordinary shares.
The Board acknowledges that this announcement will be a major disappointment to the Company's shareholders who have waited for a considerable period whilst the Board endeavoured to conclude a satisfactory deal. However, the Board has reluctantly concluded that it would not be possible, for reasons unrelated to the Company, to conclude the Proposed Transaction in the near future and therefore it was in the best interests of shareholders to terminate discussions.
The Board is now focused on concluding the audit for the year ended 31 December 2022.
Restoration of trading
In light of the discussions relating to the Proposed Transaction ceasing, the Company applied to have the suspension of the Company's ordinary shares from trading on the Standard Listing segment of the Official List of the UK Listing Authority lifted. Trading in the Company's shares has re-commence today, 5 April 2023.
Further updates will be provided in due course, as necessary.
Enquiries
Golden Rock Global PLC
Ross Andrews, Chairman
(ross.andrews@rmaconsultancy.co.uk)