REG - Ikigai Ventures Ltd - Company Update

Ikigai VenturesAnnouncement

13/09/2024 07:00

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RNS Number : 0211E  Ikigai Ventures Limited  13 September 2024

13 September 2024

 

IKIGAI VENTURES LIMITED

 

("Ikigai" or the "Company")

 

Company Update

 

Ikigai Ventures Limited (LON:IKIV), a special purpose acquisition company
(SPAC) listed on the Main Market of the London Stock Exchange, established to
acquire dynamic, high-growth businesses in sectors such as healthcare,
finance, agriculture, mining, and artificial intelligence, which demonstrate
strong ESG (Environmental, Social, Governance) credentials, confirms that
following the implementation of the UK Financial Conduct Authority's new
Listing Rules for the Main Market of the London Stock Exchange ("UKLR"), which
became effective from 29 July 2024 ("Implementation Date"), the Company has
been mapped into the Equity shares (shell companies) category and will be
subject to the transitional provisions of the UKLR.  This means that the
Company will have one year from the Implementation Date to complete their
operations, if they can be completed during the transition period, or make the
necessary changes to comply with the additional requirements set out in the
UKLR.

 

Upon the first anniversary of the Implementation Date, under the UKLR, the
transition period will expire, and the Company will have an initial 24 month
period (to 28 July 2027), to complete an appropriate transaction, which can be
extended by an additional 12 month periods up to three times with the approval
of the Company's shareholders.

 

The Company is actively engaged with several potential acquisition targets and
will update the market as appropriate.

 

Kane Black, CEO of Ikigai Ventures, commented: "Following a challenging period
for capital markets in 2022 and 2023, marked by a global slowdown in IPO
activity, 2024 has seen a rebound in public listings, particularly on the
London Stock Exchange, with several successful IPOs.  This resurgence has
expanded the pool of potential targets for Ikigai and we are actively pursuing
opportunities with innovative tech companies from the UK, Europe, and
Asia-Pacific.  While we remain confident of concluding a transaction in the
near future, the new UK Listing Rules offer the Company enhanced certainty for
shareholders regarding the timeline for completing a transaction."

 

 

For further information please contact:

 

 Ikigai Ventures Limited                     Via IFC
 Kane Black, CEO

 Cosign Limited (Company Secretary)          +44 (0)1481 211 000

 Strand Hanson Limited (Financial Advisor)   +44 (0) 207 409 3494

 Rory Murphy / Abigail Wennington

 Novum Securities (Broker)                   +44 (0) 207 399 9400

 Colin Rowbury

 IFC Advisory Limited (Financial PR and IR)  +44 (0) 203 934 6630
 Tim Metcalfe

 Zach Cohen

 

 

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