20 Dec 2019 10:30
20 December 2019
SalvaRx Group plc
("SalvaRx" or the "Company")
Cancellation of trading on AIM / Potential acquisition
SalvaRx provides the following information regarding the admission of the Company's ordinary shares ("Ordinary Shares") to trading on AIM.
As previously announced, following the suspension of the Company's Ordinary Shares from trading on AIM on 9 July 2019 ("Suspension"), if neither a reverse takeover nor re-admission to trading on AIM as an investing company under the AIM Rules are completed within six months of the date of Suspension, then the Ordinary Shares will be cancelled from trading on AIM pursuant to AIM Rule 41.
As noted in the Company's interim results for the six months ended 30 June 2019, the Company has been evaluating a number of potential acquisition opportunities. The Company is now pleased to announce that it is in advanced discussions with an acquisition target which is a leader in the field of oral immune therapies. Should this proposed acquisition proceed, the Board of SalvaRx anticipates making a further announcement early in the new year, setting out full details of the transaction.
Despite efforts to conclude a reverse takeover before the cancellation date, it will not be possible to conclude the proposed transaction before 10 January 2020. On this basis, the cancellation of the admission to trading of the Ordinary Shares on AIM is expected to take effect from 7.00 a.m. on 10 January 2020.
Enquiries
SalvaRx Group plc Denham Eke | Tel: +44 (0) 01624 639396 |
SP Angel Corporate Finance LLP Nominated Adviser and Broker Matthew Johnson / Caroline Rowe (Corporate Finance) Abigail Wayne (Corporate Broking) | Tel: +44 (0) 20 3470 0470 |
Peterhouse Corporate Finance Limited Joint Broker Lucy Williams / Duncan Vasey | Tel: +44 (0) 20 7469 0932 |