REG - Nanosynth Group PLC - Notice re. General Meeting

NanosynthAnnouncement

14/06/2023 15:30

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RNS Number : 7446C  Nanosynth Group PLC  14 June 2023

14 June 2023

 

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulations
(EU) No. 596/2014 ('MAR') which has been incorporated into UK law by the
European Union (Withdrawal) Act 2018.  Upon the publication of this
announcement via Regulatory Information Service ('RIS'), this inside
information is now considered to be in the public domain.

 

nanosynth group plc

("nanosynth", the "Company" or the "Group")

 

Notice re. General Meeting

 

Since convening a General Meeting ("GM") of the Company for 15(th) June 2023,
the Company has received several expressions of interest from potential
investors in the Company.

 

Following discussions with those interested parties, the Board has decided to
provide one of those parties with a limited period to conduct due diligence to
finalise their interest in the Company.

 

Accordingly, the Board has determined that the proposed general meeting to be
held at Finncap Cavendish at 10am on Thursday 15(th) June 2023 be adjourned to
allow the interested party to complete its due diligence. If, following the
due diligence, the interested party confirms its interest in making an
investment on acceptable terms, the Company will look to call a GM to put the
proposed investment to shareholders in order to provide sufficient share
issuance authorities. If the proposed investment is not confirmed, in the
absence of any other acceptable offers of investment at that time, the Board
will reconvene a GM to approve the liquidation of the Company and, subject to
the outcome of that meeting, will look to place the Company into liquidation
with shareholder support or failing such support, via an application to the
courts.

 

In the meantime, the Company will contact all creditors to provide an update.

 

Currently, the Company is no longer trading and all staff have been released
as of the 16(th) May 2023, with just the Board working to find a suitable
solution for the Company's future.

 

ENQUIRIES:

 

 Prospective liquidators' contact details                               nanosynth@resolvegroupuk.com (mailto:nanosynth@resolvegroupuk.com)

 ReSolve Advisory Limited

 Simon Jagger & Cameron Gunn

 nanosynth group plc                                                    via IFC Advisory

 Mark Duffin (Chief Executive Officer)

 IFC Advisory Ltd                                                       +44 20 3934 6630
 Graham Herring
 Zach Cohen

 Nominated Adviser and Broker                                      +44 20
                               3470 0470
 Stuart Gledhill
 Kasia Brzozowska

 

 

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