Learn from the past - Provide for the future
At a board meeting of the Company held on 12 April 2017, it was decided that the Company should cease its investment activities and instead to focus on completing a suitable reverse takeover transaction as soon as possible. In particular, the Company is investigating a number of potential reverse takeover candidates in the oil and gas sector. As a consequence of this Board decision, the Company has now become an AIM Rule 15 cash shell, which means that the Company must make an acquisition or acquisitions which constitute a reverse takeover under Rule 14 of the AIM Rules by 12 October 2017, otherwise the trading of the Company’s shares on AIM will be suspended. If the Company has not made an acquisition or acquisitions which constitute a reverse takeover under Rule 14 of the AIM Rules within six months of such suspension, the admission of the Company’s shares to trading on AIM will be cancelled.