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RNS Number : 7391N Itsarm PLC 27 September 2023
Itsarm plc
Suspension from trading and
Corporate and financial reporting update
Itsarm plc ("Itsarm" or the "Company") announces that, further to the
announcement on 26 July 2023, the Company has not completed a transaction
which qualifies as an AIM Rule 14 transaction. Accordingly, the Company's
ordinary shares will be suspended from trading on AIM at 7:30 a.m. on 28
September 2023, pursuant to Rule 40 of the AIM Rules.
The Board continues to actively consider several business acquisition
opportunities. Of these, there are two opportunities that the Board are
particularly focused, one of which is a consumer/retail focused business, with
the intention of undertaking a qualifying AIM Rule 14 (reverse takeover)
transaction by 27 March 2024. It should be noted however that these
discussions are at an early stage and there can be no guarantee that they will
progress to a completed transaction. If no such transaction is completed,
admission to trading on AIM will be cancelled at 7:00 a.m. on 28 March 2024.
The Company's audited financial results for the year ended 31 March 2023
("FY23") are required, pursuant to the AIM Rules, to be announced by 30
September 2023. Based upon recent conversations between the Company and its
auditors, the Company will not be able to publish its FY23 Annual Report and
Accounts by this date. The Company's ordinary shares will already have been
suspended from 28 September 2023, but such suspension will therefore remain in
effect until the Company has both (a) published an admission document in
respect of an AIM Rule 14 transaction, but also (b) having published its
audited FY23 Annual Report and Accounts, in accordance with AIM Rule 19.
For further enquiries:
Itsarm plc
David Craven, Non-Executive Chairman +44 (0) 7775 625 451
Jean-Paul Rohan, Non-Executive Director
Zeus (Nomad and Broker) +44 (0) 20 3829 5000
David Foreman / Ed Beddows (Investment Banking)
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