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Pin to quick picksSovereign Mines of Africa Regulatory News (SMA)

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Suspension of shares

21 Jul 2017 07:35

RNS Number : 6852L
Sovereign Mines of Africa PLC
21 July 2017
 

 

 

21 July 2017

 

Sovereign Mines of Africa PLC

("SMA" or "the Company")

 

Suspension of shares

 

Sovereign Mines of Africa confirms that trading in the Company's shares has been suspended. The Company is currently deemed a cash shell under AIM Rule 15, pursuant to which it is required to make an acquisition which constitutes a reverse takeover under AIM Rule 14, failing which the Exchange will suspend trading in the Company's shares pursuant to AIM Rule 40. As previously notified suspension of trading in the Company's shares was scheduled for today, 21 July 2017.

 

Having previously pursued a wider strategy of targeting assets in a number of sectors, the Company is now pursuing a more targeted strategy, including pursuing acquisitions in the Indian consumer goods sector. The Board is in discussions with another party about a possible transaction which would under the AIM rules constitute a reverse takeover of the Company.

 

Shareholders are advised that there can be no certainty that the discussions between the parties will lead to any agreement concerning the possible transaction or as to the timing or terms of any such transaction and there can be no assurance that, even if agreement is reached, any such transaction would be completed. A further update will be provided to shareholders in due course.

 

Trading in the Company's shares will remain suspended until publication of a re-admission document and the approval of any transaction at a general meeting of the Company. If no transaction is completed the Company's shares are scheduled to be cancelled from trading on AIM on 21 January 2018 pursuant to AIM Rule 41.

 

Enquiries:

 

SOVEREIGN MINES OF AFRICA PLC

Giles Clarke - c/o Camarco +44 20 3757 6983

 

SHORE CAPITAL - NOMINATED ADVISER & BROKER

Toby Gibbs / Jerry Keen +44 207 408 4090

 

CAMARCO

Tom Huddart / Ginny Pulbrook / Billy Clegg +44 20 3757 6983

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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Date   Source Headline
15th Jan 20185:40 pmRNSUpdate on reverse takeover and trading on AIM
5th Dec 20171:06 pmRNSUpdate on reverse takeover
10th Nov 20174:51 pmRNSHolding(s) in Company
10th Nov 20177:00 amRNSChange of Nominated Adviser and Broker
23rd Oct 20177:00 amRNSBoard Change
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29th Sep 20177:00 amRNSInterim Results for the 6 months ended 30 June 17
21st Jul 20177:35 amRNSSuspension of shares
21st Jul 20177:30 amRNSSuspension - Sovereign Mines of Africa plc
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6th Jun 20177:00 amRNS2016 Annual Report and Notice of AGM
1st Jun 20177:00 amRNSFinal Results
3rd May 20177:00 amRNSChange of Registered Office
20th Jan 201712:24 pmRNSFarm-out of Guinean Gold Asset
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26th Oct 20167:00 amRNSAppointment of new Chief Executive Officer
27th Sep 20167:00 amRNSInterim results for the six months to 30 June 2016
22nd Jul 20167:00 amRNSIssue of Warrants
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22nd Jun 20164:02 pmRNSRedemption of Deferred Shares & Issue of Equity
22nd Jun 20164:00 pmRNSResult of AGM & Directorate Change
27th May 20167:00 amRNS2015 Annual Report and Notice of AGM
23rd May 20167:00 amRNSFinal Results
21st Apr 20161:01 pmRNSStatement re share price movement
31st Dec 201510:00 amRNSTotal Voting Rights
23rd Dec 20157:00 amRNSBoard changes and subscription
1st Dec 20157:00 amRNSSuspension of discussions & future funding
10th Nov 20152:43 pmRNSUpdate on discussions with potential partner
26th Oct 20157:00 amRNSUpdate on exclusivity period
14th Oct 201511:00 amRNSUpdate on exclusivity period
12th Oct 20155:16 pmRNSHolding(s) in Company
28th Sep 20157:00 amRNSInterim Results
30th Jun 20154:06 pmRNSResult of AGM & Directorate Change
12th Jun 20157:00 amRNSHolding(s) in Company
5th Jun 20159:34 amRNSPosting of Annual Report and Notice of AGM
5th Jun 20157:00 amRNSFinal Results
7th Jan 20154:35 pmRNSPrice Monitoring Extension
30th Sep 20147:00 amRNSAssay of final batch of drill results
15th Sep 20147:00 amRNSInterim Results
1st Jul 20144:08 pmRNSRetirement of Non-Executive Director
26th Jun 20145:30 pmRNSResult of AGM
2nd Jun 20147:00 amRNSPosting of Annual Report and Notice of AGM
29th May 20147:00 amRNSFinal Results
28th Mar 20144:18 pmRNSHolding(s) in Company
25th Mar 20147:00 amRNSGBP625,000 Subscription
21st Jan 20147:00 amRNSIncreases shareholding in Guinea subsidiary
14th Jan 20147:00 amRNSRelease of Competent Person's Report
20th Dec 20131:30 pmRNSIssue of Equity
10th Dec 20134:40 pmRNSSecond Price Monitoring Extn
10th Dec 20134:35 pmRNSPrice Monitoring Extension
12

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