Last checked at 19 Jun 2012 07:00
ATHOL GOLD AND VALUE LIMITED
("Athol" or the "Company")
Acquisition aborted
Restoration of Listing
Further to the announcement made on 1 May 2012, the Board of Athol announces that it has decided not to proceed with the acquisition of Oilbarrel.com Limited ("Oilbarrel") and has issued notification to Rivington Street Holdings plc ("RSH") terminating the acquisition process with immediate effect. Under the terms of the heads of agreement, RSH is due to repay the £575,000 deposit plus accrued interest as soon as possible but in any event not later than 18 September 2012. Athol will retain a charge over the shares and the assets of Oilbarrel until such time as the deposit is repaid in full.
As the reverse takeover of Oilbarrel is no longer in contemplation, the suspension of the ordinary shares in Athol on AIM will be lifted with effect from 7.30 am today.
For further information contact:
Athol Gold and Value Limited Jennifer Allsop, Executive Chairman |
+44 7788 451 744 |
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Libertas Capital Corporate Finance Limited Sandy Jamieson |
+44 207 569 9650 |
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XCAP Securities plc John Grant / Jon Belliss |
+44 207 101 7070 |