17th Apr 2015 09:18
LONDON (Alliance News) - Cientifica PLC said Friday that trading of its shares on AIM will be cancelled on or around next Thursday, as it has been unable to implement its investing strategy before the deadline specified by AIM rules.
The company's shares were suspended from trading last October, and since then it has continued to look at potential transactions, including potential reverse takeovers. However, it was unable to finalise terms on any transactions, and along with its advisers concluded there would be insufficient time to conclude a reverse takeover.
It said it has identified and agreed a number of potential new investments in recent weeks, but still concluded it will be unable to implement its investing strategy by the deadline.
Cientifica said it will shortly be meeting with its advisers to consider its course of action, and said it is considering appointing JP Jenkins to provide a matched bargain dealing facility in its ordinary shares.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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