21 Jan 2020 15:39
21 January 2020
Path Investments plc
("Path" or the "Company")
Update and resignation of director
Path Investments plc (TIDM: PATH), the natural resources investment company, is pleased to provide an update on the Company's progress regarding the proposed acquisition of FineGems Extraction Corporation ("FGE"), as announced on 19 August 2019 (the "Proposed Transaction").
The Company continues to progress the Proposed Transaction in line with its expectations and in December 2019 Path began the draft Prospectus review process with the Financial Conduct Authority ("FCA"). Initial comments on the draft Prospectus are anticipated shortly.
The remaining steps towards completion of the Proposed Transaction and re-admission of the Company's shares to trading on the London Stock Exchange include, inter alia, an equity marketing programme, final approval and publication of the Prospectus and, because the Proposed Transaction is classified as a reverse takeover, approval of the Proposed Transaction by a General Meeting of shareholders, which will be convened when the Prospectus is published.
Further updates will be provided as appropriate.
Resignation of Director
In the meantime, Path announces that after more than four years as a Director of the Company, Andy Yeo has resigned from the Board with immediate effect, in order to focus on his other business commitments.
The Board would like to thank Andy for his hard work and commitment to the Company and wish him great success in his future ventures. For further information please contact:
Path Investments plc | 020 3934 6630 |
Christopher Theis | |
Shard Capital (Financial Adviser) | 020 7186 9900 |
Simon Leathers | |
IFC Advisory (Financial PR & IR) | 020 3934 6630 |
Tim Metcalfe | |
Zach Cohen |