Greencoat Renewables Regulatory News (GRP)

3 Apr 2006 07:01

GruppeM Investments PLC03 April 2006 Embargoed until 7.00am 3 April 2006 GRUPPEM INVESTMENTS PLC (LSE: GRP, 'GruppeM' or the 'Company') Statement on the suspension of trading on AIM GruppeM Investments PLC today announces that, in accordance with the AIM Rules,trading in the Company's shares has been suspended as it has not made anacquisition that constitutes a 'reverse takeover' prior to 1 April 2006. GruppeM is presently in negotiations regarding two potential acquisitions withinthe property and motor retailing sectors in China, in line with the Company'sstrategy at the time of its flotation in February 2005. The Directors expect toannounce agreements for these acquisitions within the following two months. Kenny Chen, Managing Director of GruppeM, commenting on the situation said: "We listed GruppeM Investments PLC as a shell company on AIM last year with thedeclared intention of seeking exciting opportunities in property and motorretailing in China. We are presently engaged in reviewing two potentialacquisitions that we expect will deliver significant value to our shareholdersover time. Unfortunately, as we have not been able to conclude matters prior tothe AIM deadline, trading in our shares has been temporarily suspended. On the basis that we successfully reach agreement to acquire these twocompanies, which would represent a reverse takeover transaction under the AIMRules and be conditional on shareholders' approval, we would publish anadmission document at which time we expect that suspension of trading in theshares would be lifted." In the event that the Company does not complete a reverse takeover within sixmonths from the date of suspension, trading of the Company's shares on AIM willbe cancelled. For more information please contact: GruppeM Investments PLCKenny Chen/Paul McIlwaineTel: +44 (0) 207 233 2952 Shore Capital and Corporate LimitedAlex BorrelliTel: +44 (0) 207 408 4090 Further information on GruppeM Investments PLC can be found on the Company'swebsite: www.gruppemplc.com. This information is provided by RNS The company news service from the London Stock Exchange