REG - Amala Foods PLC - Further re Corporate Update

Amala FoodsAnnouncement

09/05/2023 07:15

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RNS Number : 7674Y  Amala Foods PLC  09 May 2023

 

Amala Foods Plc

("Amala" or the "Company")

 

 

Re: Corporate Update

 

Amala Foods Plc (LON: DISH), a shell company, is pleased to provide a further
update following the Corporate Update that was previously announced on 19
April 2023.

The Company has been reviewing several potential transactions and has prepared
a shortlist of reverse takeover opportunities in various sectors including
healthcare, natural resources, and technology.  The Company has sufficient
funding to undertake a reverse takeover.

The Company announced previously that it has received confirmation prior to
the suspension being lifted that the Company is "grandfathered" under the
regime change so that, provided a reverse takeover is subject to eligibility
and prospectus review and approval prior to 1 December 2023, that such reverse
takeover can complete with a market capitalisation for the enlarged share
capital of the Company of less than £30,000,000 (thirty million pounds).

Whilst there can be no assurances that a reverse takeover target will be
identified, nor that a transaction can be concluded by 1 December 2023 so that
eligibility and prospectus review can be completed by the FCA, the Directors
are working hard to achieve these goals for the benefit for the shareholders
and other stakeholders in the Company.

The Directors look forward to providing a further update in due course.

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF
THE MARKET ABUSE REGULATION EU 596/2014 ("MAR").

 

Enquiries:

 

Jonathan Morley-Kirk, Non-Executive Chairman

jmk@bluebirdmv.com (mailto:jmk@bluebirdmv.com)

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