Ark Therapeutics Group PLC Signed Heads of Terms and Suspension of Trading (4238D)
March 28 2014 - 4:45AM
UK Regulatory
TIDMAKT
RNS Number : 4238D
Ark Therapeutics Group PLC
28 March 2014
28 March 2014
Ark Therapeutics Group plc
("Ark" or the "Company")
Signed Heads of Terms and Suspension of Trading
The Board of Ark is pleased to announce that the Company has
signed heads of terms in connection with the possible acquisition
of a revenue-generating and profitable UK-based private company in
the healthcare support services sector ("Target").
The transaction would be structured by way of an acquisition of
the Target by Ark in consideration for the issue of new Ark shares
to the shareholders of the Target. Due to its size in relation to
Ark, the proposed acquisition of the Target constitutes a "reverse
takeover" for the purposes of the Listing Rules. However the
intention would be that the existing Ark shareholders would retain
a significant minority of the equity of the enlarged Company. The
Company has requested that the listing of Ark's Premium listed
shares on the Main Market of the London Stock Exchange be suspended
by the UK Listing Authority pending publication of the required
shareholder documents. Shareholder approval would be required to
approve the acquisition of the Target which would be sought at a
general meeting to be convened in due course, after which the
Company also expects to seek a lifting of the trading
suspension.
The Board expects to make a further announcement in due
course.
For further information please contact:
Ark Therapeutics Group plc Tel: +44 (0)207 002 1005
Iain G Ross, Non-Executive Chairman
David Venables, Non-Executive
Director
This announcement includes "forward-looking statements" which
include all statements other than statements of historical facts,
including, without limitation, those regarding Ark's financial
position, business strategy, plans and objectives of management for
future operations, and any statements preceded by, followed by or
that include forward-looking terminology such as the words
"targets", "believes", "estimates", "expects", "aims", "intends",
"will", "can", "may", "anticipates", "would", "should", "could" or
similar expressions or the negative thereof. Such forward-looking
statements involve known and unknown risks, uncertainties and other
important factors beyond Ark's control that could cause the actual
results, performance or achievements of Ark to be materially
different from future results, performance or achievements
expressed or implied by such forward-looking statements. Such
forward-looking statements are based on numerous assumptions
regarding Ark's present and future business strategies and the
environment in which Ark will operate in the future. These
forward-looking statements speak only as at the date of this
announcement. Ark expressly disclaims any obligation or undertaking
to disseminate any updates or revisions to any forward-looking
statements contained in this announcement to reflect any change in
Ark's expectations with regard thereto or any change in events,
conditions or circumstances on which any such statements are based.
As a result of these factors, readers are cautioned not to rely on
any forward-looking statement.
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCFMGZFNRGGDZG
Premier Veterinary (LSE:PVG)
Historical Stock Chart
From Jun 2024 to Jul 2024
Premier Veterinary (LSE:PVG)
Historical Stock Chart
From Jul 2023 to Jul 2024