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Company Update

1 Feb 2019 14:46

RNS Number : 8830O
Tau Capital PLC
01 February 2019
 

 

1 February 2019

 

Tau Capital plc

("Tau" or the "Company")

 

 

Company Update

 

Further to the Company's announcements made on 4 December 2018 and 18 October 2018, Tau announces that the Board has decided to extend its timeline for the Company to receive and consider proposals that would ultimately involve the Company seeking an acquisition or acquisitions which constitute a reverse takeover under AIM Rule 14 until 6 February 2019.

Tau has received expressions of interest from parties who are interested in performing transactions that could involve a potential recapitalisation of the Company or other forms of potential transaction, with a view to the Company subsequently seeking a reverse takeover under AIM Rule 14. There can be no certainty that any transaction will occur or as to the terms of any such transaction, should a transaction be forthcoming.

If by 6 February 2019 the Board determines that none of the potential transactions can be successfully progressed on terms that the Board believes are in the best interests of shareholders, then the Board will then consider distributing substantially all of the Company's remaining cash not required to meet operating costs and liabilities and seek a cancellation of the admission to trading of the Company's shares on AIM in accordance with AIM rule 41. This would be followed by the appointment of a liquidator of the Company.

The Company is classified as an AIM Rule 15 cash shell and as such is required to make an acquisition or acquisitions which constitutes a reverse takeover under AIM Rule 14 or be re-admitted to trading on AIM as an investing company under the AIM Rules (which requires the raising of at least £6 million) on or before 18 April 2019, failing which trading in the Company's Ordinary Shares on AIM would be suspended pursuant to AIM Rule 40. Admission to trading on AIM would be cancelled six months after the date of suspension should the reason for the suspension not have been rectified.

Further announcements will be made in due course.

Further information, please contact:

 

FIM Capital Limited

Philip Scales

 

Tel: +44 (0) 1624 681250

 

 

Allenby Capital Limited (Nominated Adviser and Joint Broker)

John Depasquale / Alex Brearley

 

 

Peterhouse Capital Limited (Joint Broker)

Lucy Williams / Eran Zucker

 

Tel: +44 (0) 203 328 5656

 

 

 

Tel: +44 (0) 207 469 0933

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
END
 
 
UPDTBMITMBIMBIL
Date   Source Headline
23rd Oct 20193:09 pmRNSStatement re (cancellation of trading on AIM)
8th Oct 20193:00 pmRNSStatement re potential cancellation of trading
2nd Sep 20197:00 amRNSInterim Results
27th Jun 20197:00 amRNSFinal Results
30th Apr 20195:00 pmRNSTotal Voting Rights
23rd Apr 20197:30 amRNSSuspension - Tau Capital Plc
23rd Apr 20197:00 amRNSStatement re suspension of shares
16th Apr 20199:09 amRNSHolding(s) in Company
12th Apr 20193:42 pmRNSHolding(s) in Company
12th Apr 201911:38 amRNSDirectorate Changes
12th Apr 20199:58 amRNSHolding(s) in Company
12th Apr 20199:15 amRNSHolding(s) in Company
8th Apr 201911:51 amRNSResult of Extraordinary General Meeting
19th Mar 20197:00 amRNSREPLACEMENT: Posting of Circular to Shareholders
18th Mar 20192:25 pmRNSPosting of Circular to Shareholders
15th Mar 201911:30 amRNSDistribution of Cash, Placing and Other Matters
8th Feb 20193:17 pmRNSHolding(s) in Company
7th Feb 20191:48 pmRNSCompany Update
1st Feb 20192:46 pmRNSCompany Update
21st Jan 201911:05 amRNSSecond Price Monitoring Extn
21st Jan 201911:00 amRNSPrice Monitoring Extension
4th Dec 20184:31 pmRNSCompany Update
19th Nov 201812:11 pmRNSResult of AGM
18th Oct 20183:20 pmRNSCompletion of Disposal
11th Oct 20183:32 pmRNSNotice of AGM
4th Oct 201810:49 amRNSResult of EGM
28th Sep 20187:00 amRNSHalf-year Report
19th Sep 20187:30 amRNSRestoration - Tau Capital Plc
18th Sep 20185:30 pmRNSPosting of Accounts and Restoration of Trading
17th Sep 20185:26 pmRNSPosting of Shareholder Circular and Notice of EGM
17th Sep 20187:00 amRNSFinal Results
28th Aug 20187:00 amRNSConditional sale of holding in Stopharm LLC
2nd Jul 20187:30 amRNSSuspension - Tau Capital Plc
29th Jun 20187:00 amRNSUpdate re. suspension of trading
26th Jun 20182:05 pmRNSImpairment of Investment
21st Mar 20182:24 pmRNSHolding(s) in Company
29th Sep 20177:00 amRNSHalf-year Report
31st Jul 201711:41 amRNSResult of AGM
7th Jul 201710:30 amRNSNotice of AGM
30th Jun 20177:00 amRNSFinal Results
1st Jun 20174:25 pmRNSHolding(s) in Company
1st Jun 20174:22 pmRNSHolding(s) in Company
14th Dec 20167:00 amRNSChange of Adviser
30th Sep 20167:00 amRNSHalf-year Report
22nd Sep 20167:00 amRNSInvestment Update
8th Aug 20163:09 pmRNSResult of AGM
1st Jul 20165:10 pmRNSNotice of AGM
30th Jun 20169:57 amRNSFinal Results
30th Sep 20157:00 amRNSHalf Yearly Report
10th Jul 20153:08 pmRNSResult of AGM

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