VOR Vordere Plc

TIDMACO

RNS Number : 6689A

Acorn Growth PLC

28 March 2017

28 March 2017

Acorn Growth plc ("the "Company")

Possible Acquisitions

The Directors of the Company are pleased to announce that the Company has entered into letters of intent to acquire, subject to contract, several properties in Germany in accordance with its published investment strategy (the "Acquisition"). The vendors of those properties are: Dolphin Capital 112 Projekt GmbH & Co. KG; Dolphin Capital 192 Projekt GmbH & Co. KG; Dolphin Capital 126 Projekt GmbH & Co. KG; and Dolphin Capital 214 Projekt GmbH & Co. KG

The Acquisition is subject, inter alia, to the completion of due diligence, documentation and compliance with all regulatory requirements, including the Listing and Prospectus Rules.

The negotiations may or may not lead to a completion of the Acquisition.

Suspension and Application for Listing

Given the size of the Acquisition, if it proceeds, it will constitute a Reverse Takeover under the Listing Rules and, accordingly, at the Company's request the listing of its ordinary shares has now been suspended

The Company is also proposing to make an offer to the public of ordinary shares ("Offer") of up to GBP9,000,000 with the possibility of an additional GBP9,000,000 pursuant to an over allotment facility.

If the Acquisition proceeds the Company will publish and send to shareholders a prospectus and circular in relation to the Acquisition and Offer and will, in due course, be making application for the enlarged Company to have its ordinary shares admitted to the standard segment of the Official List and to trading on the main market for listed securities of the London Stock Exchange.

The Company will update shareholders as the matter progresses.

Enquiries:

 
                                    +44 (0)20 3755 
 Acorn Growth PLC                    5561 
 Keith Lassman of Howard Kennedy 
  LLP (the company's lawyers) 
 Peterhouse Corporate Finance 
  Limited                           +44 (0) 20 7220 
  Lucy Williams / Duncan Vasey       9797 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCBLGDXGSDBGRR

(END) Dow Jones Newswires

March 28, 2017 02:00 ET (06:00 GMT)

Vordere (LSE:VOR)
Historical Stock Chart
From Mar 2024 to Apr 2024

Vordere (LSE:VOR)
Historical Stock Chart
From Apr 2023 to Apr 2024