REG - Hawkwing PLC - Relisting

HawkwingAnnouncement

24/12/2021 07:00

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RNS Number : 6936W  Hawkwing PLC  24 December 2021

 

THIS ANNOUNCEMENT, INCLUDING THE INFORMATION CONTAINED IN IT, IS RESTRICTED
AND IS NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY,
IN WHOLE OR IN PART, IN OR INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA,
JAPAN, OR THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH
PUBLICATION, RELEASE OR DISTRIBUTION WOULD BE UNLAWFUL.

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF
REGULATION (EU) 596/2014, WHICH IS PART OF DOMESTIC UK LAW PURSUANT TO THE
MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS 2019 (SI 2019/310) ("UK MAR").
UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION (AS DEFINED
IN UK MAR) IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

 

 

24 December 2021

 

 

Hawkwing plc

 

("Hawkwing" or the "Company")

 

Relisting

 

Further to the announcement of 13 December 2021, Hawkwing plc (LSE: HNG) has
been informed by the Financial Conduct Authority ("FCA") that they regard the
loan to Internet Fusion Group ("IFG") as a transaction under the definition of
a reverse takeover. As a result of this the application to restore the
listing of the Company at this time has been withdrawn.

 

As set out in our announcement of 17 September 2021, the Company made a loan
of £13.7 million to IFG (the "IFG Loan"). The IFG Loan carries a 8% per
annum interest rate from the date of drawdown and is for a three-year term.
The IFG Loan also carries a redemption premium depending on when the IFG Loan
is repaid. The IFG Loan is secured against the assets of the acquired
businesses and guaranteed by IFG.

 

Discussions are continuing with IFG to unwind the loan and a further
announcement will be made in due course. For the purposes of UK MAR, the
person responsible for arranging for the release of this announcement on
behalf of Hawkwing is Keith Sadler, Senior Independent Non-Executive Director.

 

- Ends -

 

Enquiries:

 

 Hawkwing plc
 Keith Sadler, Senior Independent Non-Executive Director  +44 20 7618 9100

 Luther Pendragon
 Harry Chathli, Alexis Gore                               +44 20 7618 9100

 

About Hawkwing plc

 

For more information, please refer to the Company's website: www.hawkwing.co
(http://www.hawkwing.co/)

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