28 Dec 2018 18:24
The People's Operator plc
("TPO", the "Company" or the "Group")
Update on Financial and Listing Position
The People's Operator (AIM: TPOP), the cause-based commercial mobile virtual network operator, makes the following announcement regarding its financial position and listed status.
Following the resignation of finnCap Ltd as Nominated Adviser and Broker to the Company on 19 December, the Company has been undertaking an urgent review of its position as a listed entity. It has concluded that there is no prospect of appointing a new Nominated Adviser before the end of the year. Trading in the Company's shares on AIM will therefore be cancelled at 7.00 a.m. on 3 January 2019.
Under these circumstances, WWW Holding Company has indicated that it is not willing to proceed with its subscription for new ordinary shares in the capital of the Company or the other financing arrangements set out in the Circular of 4 December 2018. The General Meeting scheduled to be held on a date not later than 31 December 2018 has therefore been cancelled.
The Company and WWW Holding Company are independently conducting reviews of the various options open to them.
The Company continues to service its UK subscribers in the normal way and there is and will be no disruption to its services during the course of this review.
A further announcement will be made in due course.
For further details, please contact:
The People's Operator plc Nick Dashwood Brown, Head of Investor Relations
| 07710 511259 |
The information communicated in this announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014.