Cancellation of AIM Admission
13 Mai 2010 - 9:59AM
UK Regulatory
TIDMPLW
RNS Number : 8451L
Playwize PLC
13 May 2010
13 May 2010
Playwize plc
("Playwize" or the "Company")
Cancellation of AIM Admission
The Board of Playwize today announces that the Company's quotation on the AIM
market of the London Stock Exchange plc ('AIM') will automatically be cancelled
with effect from 7 a.m. on 20 May 2010 pursuant to Rule 41 of the AIM Rules for
Companies. At that time, the Company's shares will have been suspended from
trading on AIM for a period of six months.
Since the Company disposed of its business and assets on 18 November 2008, the
Board of Playwize has evaluated a number of potential opportunities, none of
which have been suitable in light of the Company's investing strategy nor, the
Directors believe, in the best interests of its shareholders. In addition, the
Company has worked on prospective transactions which have moved into due
diligence phase but subsequently aborted following termination of discussions
between the Board and other respective parties. Specifically the Company
announced on 19 November 2009 that they had signed non-binding heads of terms
for the acquisition of a business in accordance with its investing strategy.
Unfortunately this transaction was aborted following termination of discussions
between the Board and the other respective parties.
As a consequence the Company has been unable to make an acquisition or
acquisitions which constitute a reverse takeover under rule 14 or otherwise
implement the Company's investing strategy.
Due to the negligible resources available to the Company it is not envisaged
that the Board will continue to seek to find a suitable transaction for Playwize
following the delisting of the Company from AIM.
For further information:
+----------------------------------------+----------------------------------------+
| Playwize plc | Tel: +972 54 4602 253 |
+----------------------------------------+----------------------------------------+
| John Corre, Chairman | |
+----------------------------------------+----------------------------------------+
| | |
+----------------------------------------+----------------------------------------+
| Allenby Capital Limited | Tel: +44 (0)20 3328 5656 |
+----------------------------------------+----------------------------------------+
| Nick Athanas/James Reeve | |
+----------------------------------------+----------------------------------------+
This information is provided by RNS
The company news service from the London Stock Exchange
END
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