Location Sciences Group PLC Further update on proposed acquisition of Sorted (3810X)
December 20 2023 - 1:00AM
UK Regulatory
TIDMLSAI
RNS Number : 3810X
Location Sciences Group PLC
20 December 2023
20 December 2023
This announcement contains inside information for the purposes
of Regulation 11 of the Market Abuse (Amendment) (EU Exit)
Regulations 2019/310. With the publication of this announcement via
a Regulatory Information Service, this inside information is now
considered to be in the public domain.
Location Sciences Group PLC
("Location Sciences" or the "Company" or the "Group")
Further update on proposed acquisition of Sorted Holdings
Limited
Further to the Company's announcement on 28 June 2023, Location
Sciences (AIM: LSAI) provide a further update on its proposed
acquisition of the entire issued share capital of Sorted Holdings
Limited ("Sorted") (the "Proposed Acquisition").
The Company currently expects to publish an AIM admission
document (the "Admission Document") in respect of the Proposed
Acquisition by the end of January 2024 at the latest, following
which point the Company will seek the restoration of trading of the
Company's ordinary shares on AIM.
A considerable amount of work has already been carried out and
the Company continues to diligently progress the transaction
towards completion.
Simon Wilkinson, Chairman of Location Sciences, commented:
"We believe that the proposed acquisition of Sorted will deliver
a transformational deal to the Company with the potential to
deliver considerable future value to all our stakeholders. A huge
amount of work has been carried out to progress this transaction in
the last few months. We look forward to providing further updates
in due course."
Carmen Carey, CEO of Sorted, commented:
" The management at Sorted is pleased with the collective
progress made to date in relation to the proposed transaction while
we continue to maintain our core focus of delivering a quality
service to our customers. "
The Company will release further announcements as and when
appropriate.
For further information please contact:
Location Sciences Group PLC via Allenby Capital
Simon Wilkinson, Chairman
Allenby Capital Limited (Nominated Adviser) Tel: +44 (0)20 3328
5656
David Hart
Vivek Bhardwaj
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END
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