10th Mar 2020 14:32
(Alliance News) - daVictus PLC on Tuesday said its shares have been re-admitted to the Main Market of the London Stock Exchange following an acquisition.
daVictus was created to make acquisitions in the food and beverage sector and its shares were suspended back in February 2019 over the acquisition of intellectual property rights to Typical Dutch NV's restaurant concept, branded as HAVANA Rolled Cigar Music Cafe.
Typical Dutch is an Aruba-registered company that runs a small family-owned cafe and sells souvenirs to tourists. daVictus agreed to pay GBP100,000 for the acquisition of Typical Dutch's proprietary rights to the HAVANA Rolled Cigar Music Cafe and its branding.
Because of its size, the acquisition constituted a reverse takeover, meaning daVictus's shares were temporarily suspended from trading. The shares were untraded on Tuesday, having last closed at 11.00 pence in February 2019.
By Anna Farley; [email protected]
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