23rd Apr 2019 11:47
LONDON (Alliance News) - Tau Capital PLC on Tuesday said its shares were temporarily suspended from trading on AIM after it failed to make an acquisition in the six months after becoming a cash shell.
The company became a cash shell in October 2018 after selling its 40% holding in Stopharm LLP for USD1.3 million. Under the listing rules, Tau Capital was required to make an acquisition within the half year, or readmit as an investing company.
Trading in the company's shares will remain suspended until the completion of a reverse takeover, or readmission on AIM as an investing company. If no such transaction is completed within six months Tau Capital's shares will be cancelled from trading on AIM.