Levrett PLC Possible Acquisition and Suspension of Trading (0897K)
16 September 2016 - 2:03PM
UK Regulatory
TIDMLVRT
RNS Number : 0897K
Levrett PLC
16 September 2016
Levrett plc ("Levrett" or the "Company")
Possible Acquisition and Suspension of Trading
The Directors of Levrett are pleased to inform shareholders that
the Company has signed a non-binding letter of intent to acquire
the entire issued share capital of Nuformix Limited, a UK
incorporated company operating in the cocrystal technology sector,
for new shares in the Company (the "Acquisition").
The Acquisition is subject, inter alia, to the completion of due
diligence, documentation and compliance with all regulatory
requirements, including the Listing and Prospectus Rules and, as
required, the Takeover Code.
The Company intends to convene a General Meeting as soon as
practicable in order to seek the shareholder approvals necessary to
pursue this opportunity. It should also be noted that if the
Acquisition proceeds, further shareholder consent may also be
required including to deal with any applicable requirements of the
Takeover Code.
Suspension and Application for Listing
The Acquisition, if it proceeds, will constitute a Reverse
Takeover under the Listing Rules since, inter alia, in substance it
will result in a fundamental change in the business of the
issuer.
As the Acquisition will constitute a Reverse Takeover under the
Listing Rules, trading in the Company's ordinary shares have been
suspended (pursuant to Listing Rule 5.3.1) with immediate effect
pending the publication of a prospectus and the application for the
enlarged Company to have its ordinary shares admitted to the
Official List and to trading on the main market for listed
securities of the London Stock Exchange.
The Company is working on the preparation of a prospectus in
relation to the Acquisition and will, in due course, be making
application for the enlarged Company to have its ordinary shares
admitted to the Official List and to trading on the main market for
listed securities of the London Stock Exchange.
The Company will update shareholders as the matter
progresses.
Enquiries:
Levrett Plc
Pascal Hughes, CEO +44 (0) 20 7183 4342
Whitman Howard Limited
Niall Baird / Nick Lovering +44 (0) 20 7659 1234
This information is provided by RNS
The company news service from the London Stock Exchange
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