22nd Jun 2016 14:25
LONDON (Alliance News) - The suspension of trading in Glenwick PLC's shares was lifted on Wednesday, as the investment company said it is no longer in talks over a potential reverse takeover.
Glenwick's shares were suspended from trading on May 23 as it said it was in discussions about a potential acquisition which would have constituted a reverse takeover under stock exchange rules.
"The company is no longer engaged in discussions regarding the potential acquisition and has terminated all negotiations," Glenwick said in a statement.
Glenwick is required to implement its investing policy within 12 months of when it became an investing company in September 2015.
Not doing so would result in a suspension of its shares from trading on AIM.
Shares in Glenwick were down 32% at 0.114 pence.
By Samuel Agini; [email protected]; @samuelagini
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