7th Oct 2021 15:58
Conduity Capital PLC - AIM cash shell - Shares cancelled from trading on Thursday, after being suspended from trading for six months. Conduity sold its Singapore trading subsidiary in 2020 and became a cash shell. Under AIM rules, it needed to make a reverse takeover within six months. When this deadline passed on April 6, the shares were suspended. Since then, Conduity announced the possible acquisition of cybersecurity provider Smarttech247 for GBP33.5 million, which would be a reverse takeover. However, the takeover hasn't been completed in time to prevent the cancellation of Conduity shares. Last month, Conduity said it expected this to happen and would reapply to join AIM once the acquisition is completed.
By Tom Waite; [email protected]
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