25th Nov 2011 07:30
25 November 2011 |
Cholet Investments plc
(the "Company")
Statement re: Suspension
Further to previous announcements regarding the search for a potential acquisition target in accordance with the Company's investment strategy, as approved by shareholders on 31 March 2011, the Company has, to date, been unable to complete an acquisition and in accordance with Rule 15 of the AIM Rules trading in the Company's shares on AIM has been suspended with effect from 7.30 a.m. today.
The Company announces that it is in advanced discussions regarding a potential acquisition which would be classified as a reverse takeover in accordance with the AIM Rules. The acquisition, should it occur, would be subject to, amongst other things, approval by the shareholders of the Company at a general meeting.
No guarantees can be made as to whether or not such discussions will lead to a transaction being concluded. A further announcement will be made in due course.
In the event that the acquisition or another reverse takeover transaction is not effected within six months, trading in the Company's shares on AIM will be cancelled.
For further information contact:
Development Capital Management | Tel: 020 7355 7600 |
Andy Gardiner | |
Merchant Securities Limited | |
Simon Clements/Virginia Bull | Tel: 020 7628 2200 |
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