REG - Fragrant Prosperity - Statement re. Suspension

Fragrant Prosperity HoldingsAnnouncement

22/11/2023 15:15

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RNS Number : 3663U  Fragrant Prosperity Holdings Ltd  22 November 2023

 

For immediate
release
22 Nov 2023

 

 

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")

Corporate update

 

Following the announcement of the signing of a heads of terms with Hi 55
Ventures Limited ("Hi") a UK based fintech business ("Target"), in relation to
the potential refinancing of FPP and acquisition of the Target by FPP
("Intended Acquisition") on the 23(rd) March 2023. The Company announces that
the exclusivity period under the head of terms has expired and the company has
ceased work on the Intended Acquisition.

 

Suspension

 

Although the Company has ceased discussions in respect of a reverse takeover,
the Company's shares will remain suspended as the Company has not yet
published its audited financial statements for the year end 31 March 2023. Due
to delays with the audit process the Company expects to complete the audit and
publish its audited annual results within the next six weeks. The Company will
provide updates on this as and when appropriate.

 

 

This announcement contains inside information for the purposes of Article 7 of
Regulation (EU) 596/2014 which is part of UK law by virtue of the European
Union (Withdrawal) Act 2018.

 

ENDS

 

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

 

Broker: Optiva Securities

Vishal Balasingham
                           +44 (0) 20 3137 1903

 

 

 

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