23rd Apr 2021 17:15
Watchstone Group PLC - cash shell with remaining assets comprising litigation and contingent assets - Intends to apply for admission to trading on the Access segment of the AQSE Growth Market operated by the Aquis Stock Exchange. It is expected trading will start next Friday.
Notes that shares will be suspended from trading on AIM on May 4 given six months have passed since the disposal of the ingenie business, which constituted a fundamental change of business and left the company classed as a cash shell.
"Watchstone is now a group with a number of litigation assets, contingent liabilities and cash. Litigation in relation to the historic activities of the group is being pursued where it is considered that the group has a strong case and where the board having taken advice, expects a successful outcome in favour of the group," firm says.
Company gives notice of intended cancellation of shares on AIM following annual general meeting to be held later this year. Shares will continue to be available for trading on the Access segment of the AQSE Growth Market.
"In selecting the AQSE Growth Market, the board were keen to provide shareholders with the services of a regulated market and a trading facility while it pursues its litigation assets and its strategy unfolds," it says.
Current stock price: 51.10 pence
Year-to-date change: down 15%
By Lucy Heming;Â [email protected]
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