REG - Boston International - Termination of Acquisition & Update on Suspension

Boston International HoldingsAnnouncement

29/09/2023 17:15

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RNS Number : 2423O  Boston International Holdings PLC  29 September 2023

The information contained within this announcement is deemed by the Company to
constitute inside information for the purposes of Article 7 of EU Regulation
596/2014 (which forms part of domestic UK law pursuant to the European Union
(Withdrawal) Act 2018) ("UK MAR"). Upon the publication of this announcement
via a Regulatory Information Service, this information is considered to be in
the public domain.

For immediate release

29 September 2023

BOSTON INTERNATIONAL HOLDINGS PLC

("BIH" or the "Company")

Termination of Potential Acquisition of Topic S.A.

Update on Suspension of Listing

Further to the announcement of 27 April 2023 relating to a potential
acquisition by the Company of Topic S.A. ("Topic"), a privately-owned, oil and
gas exploration and production company, incorporated in Tunisia (the
"Potential Acquisition"), the Company announces that it has decided not to
proceed with the Potential Acquisition.

Given that the Potential Acquisition, if completed, would have constituted a
reverse takeover ("RTO") under the FCA's Listing Rules, the listing of the
Company's ordinary shares on the FCA's Official List (standard segment) was
suspended, at the request of the Company, on 27 April 2023 and has remained
suspended since that date.

Ordinarily, on termination of such discussions, the Company would request that
its ordinary shares be restored to listing.  However, the Directors of the
Company are actively considering another potential acquisition opportunity in
the natural resources sector in Africa which would constitute an RTO and have
therefore requested that the Company's shares remain suspended for the time
being.

A further announcement will be made by the Company in due course.

For more information, please contact:-

 Boston International Holdings Plc
 Christopher Pitman, Chairman                  +44 (0) 7768 104329
 Beaumont Cornish Limited (Financial adviser)
 Roland Cornish / Asia Szusciak                +44 (0) 20 7628 3396
 Peterhouse Capital Limited (Broker)
 Lucy Williams / Duncan Vasey                  +44 (0) 20 7469 0930

 

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