REG - Golden Rock Global - Termination of Discussions

Golden Rock GlobalAnnouncement

27/08/2024 15:45

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RNS Number : 8676B  Golden Rock Global PLC  27 August 2024

Golden Rock Global plc

(the "Company" or "GCG")

 

Termination of discussions

and

Suspension

27 August 2024

 

On the 17 June 2024, the Board gave a positive update on the progress of
discussions with 2Mee Limited ("2Mee"), the proposed RTO transaction, as well
as a commercial trading update on 2Mee. However, despite the Board's best
efforts and those of our Broker, it has become evident that, due to the
current difficult market conditions for small companies in general, we have
been unable to gain sufficient interest from potential investors for the
transaction. The Board and the management of 2Mee have therefore reluctantly
made the difficult decision to terminate discussions.

 

The Board understands that this will be a significant disappointment to all
shareholders, especially as this is the second time the Company has almost
completed an RTO but, for reasons beyond its control, has been unable to
complete.

 

The Company's financial position is such that it is unable to complete an
audit for the year ended 31 December 2023 without a further injection of cash.
Until such additional funding has been secured, and the audit has been
completed, the Company's shares will remain suspended.

 

The Board has limited options available unless some additional funding can be
obtained in the short term and is in urgent discussions with its advisers and
major shareholders in this regard. A further announcement will be made when
the Board has agreed on the best course of action.

 

 

 Enquiries

 Golden Rock Global plc               Email: ross.andrews@rmaconsultancy.co.uk

 Ross Andrews, Chairman

 Clear Capital Limited- Joint Broker  0203 8696080

 Bob Roberts

 

The information contained within this announcement is deemed to constitute
inside information as stipulated under the retained EU law version of the
Market Abuse Regulation (EU) No. 596/2014 (the "UK MAR") which is part of UK
law by virtue of the European Union (Withdrawal) Act 2018. The information is
disclosed in accordance with the Company's obligations under Article 17 of the
UK MAR. Upon the publication of this announcement, this inside information is
now considered to be in the public domain.

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