Hawkwing PLC Relisting (6936W)
December 24 2021 - 12:59AM
UK Regulatory
TIDMHNG
RNS Number : 6936W
Hawkwing PLC
24 December 2021
THIS ANNOUNCEMENT, INCLUDING THE INFORMATION CONTAINED IN IT, IS
RESTRICTED AND IS NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION,
DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO OR FROM THE
UNITED STATES, AUSTRALIA, CANADA, JAPAN, OR THE REPUBLIC OF SOUTH
AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH PUBLICATION, RELEASE
OR DISTRIBUTION WOULD BE UNLAWFUL.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF ARTICLE 7 OF REGULATION (EU) 596/2014, WHICH IS PART OF DOMESTIC
UK LAW PURSUANT TO THE MARKET ABUSE (AMENDMENT) (EU EXIT)
REGULATIONS 2019 (SI 2019/310) ("UK MAR"). UPON THE PUBLICATION OF
THIS ANNOUNCEMENT, THIS INSIDE INFORMATION (AS DEFINED IN UK MAR)
IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.
24 December 2021
Hawkwing plc
("Hawkwing" or the "Company")
Relisting
Further to the announcement of 13 December 2021, Hawkwing plc
(LSE: HNG) has been informed by the Financial Conduct Authority
("FCA") that they regard the loan to Internet Fusion Group ("IFG")
as a transaction under the definition of a reverse takeover. As a
result of this the application to restore the listing of the
Company at this time has been withdrawn.
As set out in our announcement of 17 September 2021, the Company
made a loan of GBP13.7 million to IFG (the "IFG Loan") . The IFG
Loan carries a 8% per annum interest rate from the date of drawdown
and is for a three-year term. The IFG Loan also carries a
redemption premium depending on when the IFG Loan is repaid. The
IFG Loan is secured against the assets of the acquired businesses
and guaranteed by IFG.
Discussions are continuing with IFG to unwind the loan and a
further announcement will be made in due course. For the purposes
of UK MAR, the person responsible for arranging for the release of
this announcement on behalf of Hawkwing is Keith Sadler, Senior
Independent Non-Executive Director.
- Ends -
Enquiries:
Hawkwing plc
Keith Sadler, Senior Independent Non-Executive
Director +44 20 7618 9100
Luther Pendragon
Harry Chathli, Alexis Gore +44 20 7618 9100
About Hawkwing plc
For more information, please refer to the Company's website:
www.hawkwing.co
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END
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