Monchhichi plc Progress Update and Proposed admission (6937Q)
14 Settembre 2017 - 8:00AM
UK Regulatory
TIDMMCC
RNS Number : 6937Q
Monchhichi plc
14 September 2017
This announcement contains inside information for the purposes
of Article 7 of the Market Abuse Regulation (EU) No 596/2014
Monchhichi Plc ("Monchhichi" or the "Company")
Progress Update
and
Proposed admission to the standard segment of the Official List
and cancellation of admission to trading on AIM
Progress Update
In line with its investment policy, the Company plans to make a
series of cohesive and meaningful acquisitions with clear existing
industry validation and a disruptive growth trajectory in the
technology, media and internet sectors.
Following Monchhichi's announcement on 28 July 2017, the
Directors are pleased to announce that they have made considerable
progress in finalising a EUR10.0 million investment in a global
private technology company (the "Investment"). This initial
Investment would be part of a much broader overall deal with the
target company.
The Directors will also be seeking shareholder approval for an
extension of the Company's Investment Policy to include the
acquisitions of majority interests in investee companies,
investments in quoted companies including the ability to make
outright acquisitions.
Proposed admission to the standard segment of the Official List
and cancellation of admission to trading on AIM
The Directors propose to seek admission of the Company's entire
issued share capital to the standard segment of the Official List
and to trading on the main market for listed securities of the
London Stock Exchange plc (the "Main Market"), and to
simultaneously cancel the trading of its issued share capital on
AIM. The proposed move to the Main Market will be by way of
admission under Chapter 14 of the UK Listing Rules to the standard
segment of the Official List. To achieve the Company's stated aims,
the Company considers that admission to trading on the Main Market
will increase its profile and attractiveness to a broader range of
international institutional investors as its investment policy is
implemented.
Pursuant to Rule 41 of the AIM Rules for Companies, the Company
hereby gives notice of the intended cancellation of admission to
trading of its issued share capital on AIM. The admission of the
Company's issued share capital to trading on AIM is expected to be
cancelled with effect from 8.00 a.m. on 16 October 2017.
It is expected that the admission of the Company's issued share
capital to the Official List of the UK Listing Authority and to
trading on the London Stock Exchange's main market for listed
securities will take place simultaneously with the de-listing from
AIM, and will become effective at 8.00 a.m. on 16 October 2017,
subject to receipt of the necessary approvals from the UK Listing
Authority.
Shareholders should note that the current exemption from Stamp
Duty and the Stamp Duty Reserve Tax (SDRT) applicable to
transactions in eligible securities on London Stock Exchange's AIM,
from which transactions in the Company's ordinary shares currently
benefit, will immediately cease to be available from the date of
cancellation of its trading on AIM.
The Company expects its ordinary shares to remain suspended
until the intended cancellation of admission to trading of its
issued share capital on AIM takes effect and the Company is
simultaneously admitted to trading on the London Stock Exchange's
main market for listed securities will take place.
The Company will make further announcements as to progress in
due course and timing, if required.
Market Abuse Regulation
The information contained within this announcement is deemed to
constitute inside information as stipulated under the Market Abuse
Regulations (EU) No. 596/2014. Upon the publication of this
announcement, this inside information is now considered to be in
the public domain.
For further information:
Buchanan (Financial communications)
Richard Oldworth / Henry Harrison-Topham Tel: +44 (0)20 7466
/ Catriona Flint 5000
monchhichi@buchanan.uk.com www.buchanan.uk.com
Enquiries: Tel: +44 (0)20 7886
Panmure Gordon (Nominated 2500
Adviser and Broker)
Dominic Morley / Alina Vaskina
Notes to the editors:
Monchhichi Plc (MCC.L) is a UK quoted company that focusses on
making conviction investments / acquisitions in people,
organisations and outstanding businesses with proven track records,
industry validated market positions and clearly visible disruptive
growth opportunities in the Technology, Media and Internet space
globally. For more please visit www.monchhichi.life
This information is provided by RNS
The company news service from the London Stock Exchange
END
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September 14, 2017 02:00 ET (06:00 GMT)
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