RNS Number : 7391N
Itsarm PLC
27 September 2023
 

Itsarm plc

 

Suspension from trading and

Corporate and financial reporting update

 

Itsarm plc ("Itsarm" or the "Company") announces that, further to the announcement on 26 July 2023, the Company has not completed a transaction which qualifies as an AIM Rule 14 transaction. Accordingly, the Company's ordinary shares will be suspended from trading on AIM at 7:30 a.m. on 28 September 2023, pursuant to Rule 40 of the AIM Rules.

The Board continues to actively consider several business acquisition opportunities. Of these, there are two opportunities that the Board are particularly focused, one of which is a consumer/retail focused business, with the intention of undertaking a qualifying AIM Rule 14 (reverse takeover) transaction by 27 March 2024. It should be noted however that these discussions are at an early stage and there can be no guarantee that they will progress to a completed transaction. If no such transaction is completed, admission to trading on AIM will be cancelled at 7:00 a.m. on 28 March 2024.

The Company's audited financial results for the year ended 31 March 2023 ("FY23") are required, pursuant to the AIM Rules, to be announced by 30 September 2023. Based upon recent conversations between the Company and its auditors, the Company will not be able to publish its FY23 Annual Report and Accounts by this date. The Company's ordinary shares will already have been suspended from 28 September 2023, but such suspension will therefore remain in effect until the Company has both (a) published an admission document in respect of an AIM Rule 14 transaction, but also (b) having published its audited FY23 Annual Report and Accounts, in accordance with AIM Rule 19.

 

For further enquiries:

Itsarm plc

 

David Craven, Non-Executive Chairman

Jean-Paul Rohan, Non-Executive Director

 

+44 (0) 7775 625 451

 

 

Zeus (Nomad and Broker)

David Foreman / Ed Beddows (Investment Banking)

+44 (0) 20 3829 5000

 

 

 

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.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
MSCQQLFLXKLXBBD