Update On Proposed Transaction
Proposed acquisition of RFPL terminated by mutual agreement after multiple delays.
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The Company announced on 2 October 2023 that it had entered into heads of terms with Redwood Financial Partners Limited ("RFPL"), and announced further updates on 10 November 2023, 15 March 2024 and 27 September 2024, in relation to the proposed acquisition by the Company of the entire issued share capital of RFPL. Despite best efforts to progress the transaction, the respective boards of the Company and RFPL have now decided to terminate discussions by mutual agreement.
In the short-term, the Board is considering various fundraising options with a view to maintaining its listing and seeking an alternative acquisition opportunity.
In the meantime, the Company will make an application to the FCA to restore its ordinary shares to trading on the Main Market of the London Stock Exchange.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.