REG - ZAIM Credit Systems - Statement re. Temporary Suspension

Adalan VenturesAnnouncement

02/05/2023 13:00

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RNS Number : 1408Y  ZAIM Credit Systems PLC  02 May 2023

For Immediate Release

2 May 2023

Adalan Ventures plc

("Adalan" or the "Company")

(Formerly known as Zaim Credit Systems plc)

Suspension of shares and corporate update

Adalan Ventures plc. (LSE:  ZAIM), the fintech group, announces that due to
complexities around the availability of financial information and associated
delays as a result of the unforeseen loss of its main operating subsidiary and
financial records mid way through the 2022 financial year, the audited annual
results for 2022 will be delayed and not meet the required deadline.

 

As such the Company has requested the suspension of the listing in the
Company's ordinary shares on the Standard Segment of the Official List, and
trading on the London Stock Exchange's Main Market has been suspended with
effect from 7.30 am on the 2 May 2023, pending publication of the annual
results.

 

Corporate update

 

The company is in the process of changing its name to Adalan Ventures plc and
following this intends to undertake a share consolidation to generate lower
and more appropriate number of shares in issue for an entity with its market
capitalisation additionally enabling a capital raise to be undertaken so that
it can execute its strategy.

 

The Company is in the process of reviewing potential business opportunities
and will update the market as required.

 

 

Further information can be found at the new corporate website:
 https://adalanventures.com/ (https://adalanventures.com/)

 

 

*Ends*

 

 

Enquiries:

 Siro Cicconi               Tel: +44 (0) 73 9377 9849

 Optiva Securities Limited
 Vishal Balasingham         Tel: +44 (0) 20 3137 1902

 

 

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulations
(EU) No. 596/2014 ("MAR").

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