Statement re. Suspension
September 22 2010 - 1:30AM
UK Regulatory
TIDMUFG
RNS Number : 0767T
Ultimate Finance Group PLC
22 September 2010
22 September 2010
Ultimate Finance Group plc
Possible acquisition and suspension
Ultimate Finance Group plc (the "Company"), the AIM-quoted factoring, invoice
discounting and financial solutions provider to the SME sector, announces that,
as indicated in its preliminary announcement of audited results for the year to
30 June 2010 released this morning, it is currently in advanced discussions,
which may or may not lead to an acquisition of a provider of factoring services
(the "Acquisition"). If discussions are successfully completed, the Acquisition
would be considered a reverse takeover under the AIM Rules and therefore would
require the approval of shareholders.
In accordance with the AIM Rules, trading in the Company's ordinary shares will
be suspended from 7.30 a.m. this morning, pending publication of a re-admission
document.
The Company also announces that it is in the advanced stages of an equity
fundraising which, once completed, will contribute to the funding required to
carry out the Acquisition.
It is expected that a re-admission document, seeking, amongst other things,
shareholder approval for the Acquisition will be posted to shareholders once the
equity fundraising has been completed subject to re-admission. A further
announcement will be made in due course.
- ENDS -
For further information please contact:
Ultimate Finance Group plc:
+--------------------------------+------------------------------+
| Richard Pepler, Chief | +44 (0) 845 251 3030 |
| Executive | |
| rpepler@ultimatefinance.co.uk | |
+--------------------------------+------------------------------+
| Shane Horsell, Finance | +44 (0) 845 251 3030 |
| Director | |
| shorsell@ultimatefinance.co.uk | |
+--------------------------------+------------------------------+
Media enquiries:
Allerton Communications:
+-----------------------------------+------------------------------+
| Peter Curtain | +44 (0) 20 3137 2500 |
| peter.curtain@allertoncomms.co.uk | |
+-----------------------------------+------------------------------+
Nominated Adviser and Joint Broker:
Arbuthnot Securities Limited
+------------------------------+------------------------------+
| Antonio Bossi | +44 (0) 20 7012 2116 |
| antoniobossi@arbuthnot.co.uk | |
| | |
+------------------------------+------------------------------+
| Paul Gillam | +44 (0) 20 7012 2144 |
| paulgillam@arbuthnot.co.uk | |
+------------------------------+------------------------------+
Joint Broker:
WH Ireland
+----------------------------------+----------------------------------+
| John Wakefield | +44 (0) 117 945 3471 |
| john.wakefield@wh-ireland.co.uk | |
| | |
+----------------------------------+----------------------------------+
| Richard Smith | +44 (0) 121 265 6304 |
| richard.smith@wh-ireland.co.uk | |
| | |
+----------------------------------+----------------------------------+
This information is provided by RNS
The company news service from the London Stock Exchange
END
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