4th May 2018 11:09
LONDON (Alliance News) - Shares in Abaco Capital PLC said Friday its shares will be suspended next Tuesday as it prepares to face a shareholder vote on the delisting of its shares and voluntary liquidation of the cash shell firm.
The cash shell company announced last April that it would seek shareholders' approval to place the company into a members voluntary liquidation.
Abaco said its reason for delisting was due to being unable to identify a compelling target for a reverse takeover following the demerger where Oxford Pharmascience Group demerged its assets and operating businesses to to Oxford Pharmascience Ltd.
Abaco will make a further announcement following the annual general meeting at 1130 BST next Tuesday. It shares will be suspended from 0730 BST.
Abaco shares were trading lower 3.3% at 1.45 pence on Friday.