Zamano PLC Termination of Discussion on Potential Transaction (6505X)
13 Agosto 2018 - 4:01PM
UK Regulatory
TIDMZMNO
RNS Number : 6505X
Zamano PLC
13 August 2018
zamano PLC
('zamano' or the 'Company')
Termination of Discussions on Potential Transaction
On 9 July 2018 zamano plc ("zamano" or the "Company") announced
that it was in ongoing discussions with a counterparty (the
"Target") to acquire certain operating assets of the Target in
return for the issue of new shares in the Company which would, if
such transaction proceeded, constitute a reverse takeover
transaction for the Company (the "Potential Transaction"). zamano
also announced there could be no certainty that zamano and the
Target would reach agreement on final terms which would be
acceptable to the parties or that the Potential Transaction would
be concluded.
The Company can confirm that the Target has notified zamano that
it no longer wishes to complete the Potential Transaction.
Accordingly, the Company is no longer in discussions with the
Target regarding the Potential Transaction; and the Board of the
Company will now seek to implement the termination provisions of
its agreement with the Target. The Company will also move to
conclude the process to return the Company's remaining cash assets
to shareholders as quickly and efficiently as possible. Details of
the mechanism and timetable for the return of cash will be provided
in due course.
The Company's announced on 6 March 2018 that its shares were to
be suspended from trading on the AIM market of the London Stock
Exchange ("AIM") and the ESM market of the Irish Stock Exchange
("ESM") with effect from 9 March 2018. Following the termination of
discussions regarding the Potential Transaction the Company's
shares will remain suspended from trading on both AIM and ESM. In
the event that the Company's shares remain suspended from trading
on AIM and ESM for a period of six months, the admission of the
Company's securities to trading on both AIM and ESM will be
cancelled by the relevant Exchange.
zamano PLC
Colin Tucker, Interim Tel: + 353 1 488 5820
Chairman
Investec Corporate Finance
Shane Lawlor Tel: + 353 1 421 0000
Cenkos Securities
Derrick Lee/Neil McDonald Tel: + 44 (0) 131 220
6939
MCOMM Communications Consultants
Richard Moore Tel: +353 1 661 3788
Mob: +353 87 241 4751
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END
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August 13, 2018 10:01 ET (14:01 GMT)
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