Boston International Holdings PLC AGM Statement (9282D)
July 01 2019 - 1:00AM
UK Regulatory
TIDMBIH
RNS Number : 9282D
Boston International Holdings PLC
01 July 2019
BOSTON INTERNATIONAL HOLDINGS PLC
("BIH" or "the Company")
AGM Statement
Boston International Holdings plc, a special purpose acquisition
company (SPAC) formed to undertake one or more acquisitions of
target companies or businesses in the FX sector, will hold its AGM
today at the offices of Hill Dickinson LLP, The Broadgate Tower, 20
Primrose Street, London, EC2A 2EW at 10am.
At the AGM, Borden James, Chairman will make the following
statement:
On 22 August 2017, BIH announced that it had entered into a
non-binding letter of intent with Cornhill FX Holdings Limited
("CFXH"), a private limited company incorporated in England and
Wales, in connection with the potential purchase of the entire
issued share capital of that company. The proposed transaction was
in accordance with the Company's stated strategy to acquire
companies in the FX sector and was, inter alia, conditional on the
completion of legal and financial due diligence on CFXH.
As the transaction would constitute a reverse takeover under the
Listing Rules if completed and the Company was unable to provide
full disclosure under Listing Rule 5.6 in relation to CFXH, BIH
requested from the UKLA a suspension of its listing with effect
from that date and the shares have remained suspended ever
since.
Since 22 August 2017, the Company has undertaken and
substantially completed due diligence on CFXH however to date it
has been unable to raise the necessary capital to enable the
transaction to complete. Accordingly BIH has now withdrawn from the
transaction and has requested that the Company's ordinary shares
are restored to the Official List by the UKLA.
The Directors will now undertake a review to determine the most
appropriate future strategy for BIH and will update shareholders
once this has been completed.
-ENDS-
Enquiries:
Cairn Financial Advisers
Jo Turner/David Coffman +44 20 7213 0880
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END
AGMSDFFDSFUSEEM
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