Last checked at 10 Jun 2013 16:00
KLEENAIR SYSTEMS INTERNATIONAL PLC
(AIM: KSI)
Statement re. Suspension
The Board of Kleenair Systems International Plc ("Kleenair" or "the Company"), the AIM listed investing company notes the recent share price movement and announces that it is in an advanced stage of discussions in relation to an acquisition which would constitute a reverse takeover under Rule 14 of the AIM Rules for Companies and will therefore be conditional, inter alia, upon the publication of an admission document by the Company and the approval of Kleenair's shareholders at a general meeting.
In accordance with the AIM Rules, trading in the Company's ordinary shares will be suspended with effect from 16.00 p.m. today pending publication of an admission document by the Company or an announcement that the proposed acquisition is no longer proceeding.
The proposed acquisition also remains conditional on, inter alia, the satisfactory conclusion of the Company's due diligence, and is subject to the granting of a waiver of the obligation to make a general offer pursuant to Rule 9 of the City Code on Takeovers and Mergers.
Whilst the proposed acquisition is at an advanced stage, there can be no certainty that it will be concluded successfully.
A further announcement will be made in due course.
Contacts: | |
Kleenair Systems International plc | www.kleenair-systems.co.uk |
Jubeenh Nazhat, Director/Company Secretary | +44 (0) 207 048 9405 |
John Gunn, Director | +44 (0) 207 048 9400 |
Westhouse Securities Limited | |
Antonio Bossi / Jonathan Haines | +44 (0) 20 7601 6100 |