REG - Fragrant Prosperity - CiiTECH transaction and LR5 notification

Fragrant Prosperity HoldingsAnnouncement

07/12/2021 14:45

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20211207:nRSG8700Ua&default-theme=true

RNS Number : 8700U  Fragrant Prosperity Holdings Ltd  07 December 2021

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, WITHIN,
INTO OR IN THE UNITED STATES, AUSTRALIA, CANADA, THE REPUBLIC OF SOUTH AFRICA,
THE REPUBLIC OF IRELAND OR JAPAN OR ANY OTHER JURISDICTION IN WHICH SUCH
PUBLICATION, RELEASE OR DISTRIBUTION WOULD BE UNLAWFUL.

 

Fragrant Prosperity Holdings Limited

("FPP" or the "Company")

 

 

Update regarding the CiiTECH transaction and LR5 notification.

 

7 December 2021

 

On 24 May 2021 Fragrant Prosperity Holdings Limited (LSE: FPP) announced the
potential acquisition of CiiTECH Limited (the "Acquisition") and the entry
into a letter of Intent (the "LOI").  Although the exclusivity period in the
LOI has expired, the Company has continued to progress the transaction with
CiiTECH and it is now reaching its closing stages.  As updated earlier today,
the Company has submitted a complete draft of the prospectus to the FCA
containing details of the proposed acquisition of CiiTECH and is in the
advanced stages of seeking FCA approval for that prospectus.

 

As under the Listing Rules, the Acquisition is classified as a reverse
takeover, it resulted in the suspension of the Company's shares from listing
and trading pending publication of a prospectus and accordingly the Company's
ordinary shares will remain suspended until such time as the prospectus is
published.

 

Following approval and publication of the prospectus, the Company's existing
listing will be cancelled and an application for the enlarged share capital to
be admitted to the Official List and to trading on the main market for listed
securities of the London Stock Exchange will be made.

 

- Ends -

 

 

Enquiries

 

 Fragrant Prosperity Holdings Limited  +44 (0)20 3137 1902

 Simon Retter

 Optiva Securities - Broker to FPP     +44 (0)20 3137 1903

 Vishal Balasingham

 

 

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 (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  ACQEALAXEDNFFFA