Last checked at 17 Oct 2016 07:00
Onzima Ventures Plc - Suspension of TradingOnzima Ventures Plc - Suspension of Trading
PR Newswire
London, October 14
Onzima Ventures PLC
("Onzima" or the "Company")
Suspension of Trading
On 14 October 2015, following a general meeting and approval of all resolutions by shareholders, Onzima became an Investing Company under the AIM Rules for Companies and adopted a new Investing Policy. Over the last 12 months, the Company has assessed a large number of investments and invested in 19 companies, as well as evaluated a number of potential reverse takeover opportunities.
As an Investing Company, the Company is required to implement its Investing Policy within 12 months or make an acquisition or acquisitions which constitute a reverse takeover under the AIM Rules, failing which the Company's ordinary shares would be suspended from trading on AIM. However, as at today's date, the Company has not made an acquisition or acquisitions which constitute a reverse takeover under the AIM Rules or otherwise implemented its Investing Policy to the satisfaction of the London Stock Exchange. Accordingly, in accordance with Rule 15 of the AIM Rules for Companies, the Company’s ordinary shares will be suspended from trading with effect from 7:30 am today.
In the event that the Company is deemed to have implemented its Investing Policy, the Company will apply for the suspension to be lifted. Pending the implementation of its Investing Policy or completion of a reverse takeover, trading in the Company’s ordinary shares will remain suspended.
If the Company has not made an acquisition or acquisitions which constitute a reverse takeover under the AIM Rules or otherwise implemented its Investing Policy within 6 months of the suspension, being 17 April 2017, the admission of the Company's ordinary shares to AIM will be cancelled.
For further information please contact:
Onzima Ventures PLC Tel: +44 (0) 1732 366 561
Gavin Burnell, Luke Cairns
Nominated Adviser
Cairn Financial Advisers LLP Tel: +44 (0) 20 7213 0170
Sandy Jamieson, Liam Murray
Broker
Peterhouse Corporate Finance Limited Tel: +44 (0) 20 7469 0930
Guy Miller, Lucy Williams