NTWX Nettworx

 

TIDMNTWX 
 
RNS Number : 8211R 
Nettworx PLC 
07 May 2009 
 

7 May 2009 
 
 
Nettworx Plc ("the Company" and "Nettworx") 
 
 
Members' Voluntary Liquidation and Cancellation of AIM Listing 
 
 
Nettworx announces that following a review of the Company's current investment 
strategy, the directors propose that the Company should be wound up by way of a 
members' voluntary liquidation ('Liquidation') and its assets distributed to 
shareholders. In order to enable the Liquidation, the Company proposes that the 
Ordinary Shares be cancelled from admission to trading on AIM. A circular has 
been posted to shareholders today convening a general meeting at which 
resolutions will be proposed to approve the Liquidation and cancellation of AIM 
listing. The circular is available on the Company's website at 
www.nettworxplc.com. 
 
 Nettworx was admitted to AIM on 21 December 2005 in 
order to acquire and invest in companies which could benefit from the 
convergence of voice, video and data and fixed line and mobile networks.  The 
Directors have evaluated numerous opportunities since admission but, with the 
exception of Sim4Travel, none have met all the strict investment criteria agreed 
by the Board.  Therefore, as the majority of cash has been retained, the Board 
has decided that the best course of action is to return this capital to 
shareholders through the Liquidation. The Directors believe that shareholders 
will welcome this outcome in the current economic environment. 
Liquidation 
The Company will be placed in members' voluntary liquidation and its assets will 
be distributed to the shareholders. It is anticipated that, following the 
passing of the resolutions, the Company be wound up voluntarily and that Antony 
Batty of Antony Batty & Company LLP will be appointed as liquidator for the 
purposes of the Liquidation. 
The Directors are of the view that, other than cash, there are no assets of the 
Company with more than negligible realisable value, although the liquidator will 
seek to maximise realisations of any such assets held for the benefit of 
creditors and contributories in accordance with his statutory duties. 
Cancellation 
Pursuant to Rule 41 of the AIM Rules, the Board has notified the London Stock 
Exchange of its intention to cancel (subject to the passing of the resolution at 
the General Meeting) the admission of the Ordinary Shares to trading on AIM. 
 
 
A General Meeting of Nettworx has been convened, which will be held at 5 Savile 
Row, London W1S 3PD at 10:00 A.M. on 5 June 2009 and at which resolutions will 
be proposed to enable the members' voluntary liquidation of Nettworx Plc and 
cancellation of admission to trading of Nettworx Plc shares on AIM.  If the 
resolutions are passed at the General Meeting, the last day of trading of the 
Company's Ordinary Shares will be 14 June 2009 and the cancellation of trading 
on AIM will be effective from 07:00 A.M. on 15 June 2009. 
 
 
For further information, please contact: 
 
 
Nettworx Plc 
Jonathan Rowland, Director 
Tel: +44 (0)20 7087 7971 
 
 
Canaccord Adams Limited 
Bhavesh Patel 
Tel: +44 (0)20 7050 6500 
 
 
END 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 MSCDQLFBKEBXBBF 
 

Grafico Azioni Nettworx (LSE:NTWX)
Storico
Da Mag 2024 a Giu 2024

Grafico Azioni Nettworx (LSE:NTWX)
Storico
Da Giu 2023 a Giu 2024