Update
Fortis Frontier PLC will be suspended from trading on AIM effective 7:30 am on May 11, 2026, as it will not complete a reverse takeover by the May 10 deadline, in accordance with AIM Rule 15. The company, which had approximately £3.7 million in cash as of April 30, 2026, is actively seeking acquisition opportunities to enhance shareholder value. If a suitable acquisition is not completed by November 11, 2026, leading to a potential cancellation of admission under AIM Rule 41, the directors will explore listing on the Aquis Stock Exchange to maintain an orderly market.
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Fortis Frontier PLC (AIM: FORF), an AIM Rule 15 cash shell (formerly MyHealthChecked PLC), announces that it will not be in a position to acquire another company or business by way of a reverse takeover on or before 10 May 2026, in accordance with AIM Rule 15. As a result, the Company will be suspended from trading on AIM pursuant to AIM Rule 40 with effect from 7:30 am on 11 May 2026.
As previously reported, the Board believes that there are potentially attractive acquisition opportunities available, and that as an AIM Rule 15 Cash Shell with surplus cash, the Company is well positioned to negotiate an accretive transaction which could increase Shareholder value. Although the Board is confident that a suitable acquisition can be identified within a reasonable timescale the Directors are taking time to carefully consider and evaluate all such approaches to ensure the most appropriate strategic option is chosen in the best interests of the Company and its Shareholders.
If the Company's shares remain suspended for six months, admission of the Company's shares will be cancelled. However, if the Company was to lose its AIM listing under AIM Rule 41 (i.e. the Company is unable to complete an acquisition in line with AIM Rule 15 by 11 November 2026) the Directors would fully explore seeking an alternative listing on the Aquis Stock Exchange in order to maintain an orderly market in the Ordinary Shares.
Following the recent share buybacks, and settlement of associated costs, the Company had cash (unaudited) of approximately £3.7m as at 30 April 2026.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.