SALV Salvarx Group Plc

TIDMSALV

RNS Number : 6523X

SalvaRx Group plc

20 December 2019

20 December 2019

SalvaRx Group plc

("SalvaRx" or the "Company")

Cancellation of trading on AIM / Potential acquisition

SalvaRx provides the following information regarding the admission of the Company's ordinary shares ("Ordinary Shares") to trading on AIM.

As previously announced, following the suspension of the Company's Ordinary Shares from trading on AIM on 9 July 2019 ("Suspension"), if neither a reverse takeover nor re-admission to trading on AIM as an investing company under the AIM Rules are completed within six months of the date of Suspension, then the Ordinary Shares will be cancelled from trading on AIM pursuant to AIM Rule 41.

As noted in the Company's interim results for the six months ended 30 June 2019, the Company has been evaluating a number of potential acquisition opportunities. The Company is now pleased to announce that it is in advanced discussions with an acquisition target which is a leader in the field of oral immune therapies. Should this proposed acquisition proceed, the Board of SalvaRx anticipates making a further announcement early in the new year, setting out full details of the transaction.

Despite efforts to conclude a reverse takeover before the cancellation date, it will not be possible to conclude the proposed transaction before 10 January 2020. On this basis, the cancellation of the admission to trading of the Ordinary Shares on AIM is expected to take effect from 7.00 a.m. on 10 January 2020.

Enquiries

 
 SalvaRx Group plc                             Tel: +44 (0) 01624 
  Denham Eke                                         639396 
 SP Angel Corporate Finance LLP                 Tel: +44 (0) 20 
  Nominated Adviser and Broker                      3470 0470 
  Matthew Johnson / Caroline Rowe (Corporate 
  Finance) 
  Abigail Wayne (Corporate Broking) 
 Peterhouse Corporate Finance Limited             Tel: +44 (0) 20 
  Joint Broker                                          7469 0932 
  Lucy Williams / Duncan Vasey 
 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

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