DBAY Douglasbay

TIDMDBAY

RNS Number : 2043A

Douglasbay Capital PLC

28 March 2012

28 March 2012

DOUGLASBAY CAPITAL PLC (the "Company")

Update on implementing its investment policy and suspension from AIM

As previously advised on 28 February 2012, whilst the Company is currently reviewing a number of investment opportunities at this point in time DBAY has not substantially reinvested the proceeds following the disposal of its investment in TDG. As such, the Company's Ordinary shares ("Shares") will be suspended from trading on AIM at 7.30am on 29 March 2012.

DBAY intends to continue assessing opportunities with the intention of implementing its investment policy whilst the Shares are suspended from trading on AIM. Whilst the Shares are suspended from trading on AIM off market transactions may be possible. Shareholders should note that following the Suspension, the Shares will not be restored to trading on AIM unless the investment policy is implemented within six months from date of Suspension.

However, if suitable investments are not identified and completed in the six month period post suspension the Shares will be cancelled from trading on AIM. In this eventuality the Company will engage in a dialogue with its main shareholders on how best to return its capital in the most efficient way.

For further information please contact:

 
 DouglasBay Capital plc          Peel Hunt LLP (Nominated Adviser 
                                  & Broker) 
 Alex Paiusco, Chief Executive   Guy Wiehahn 
  Mike Haxby, CFO 
 Tel: 01624 690900               Tel: 020 7418 8900 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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