Proposed Transaction Update

RNS Number : 1131X

Path Investments plc

31 December 2021

 

31 December 2021

Path Investments plc
("Path" or the "Company")

Proposed Transaction Update

Path Investments plc (TIDM: PATH) , is pleased to provide an update following the Company's announcement on 13 August 2021 that the Company had entered into a conditional sale and purchase agreement (the "Agreement") to acquire the entire issued share capital of DG Innovate Ltd ("DG Innovate") (the "Proposed Transaction").

As previously announced, the Proposed Transaction is subject, inter alia, to the approval of Path's independent shareholders and waiver of Rule 9 of the Takeover Code by the Takeover Panel, together with the publication of a prospectus and the application by the Company to have its enlarged share capital listed on the Standard Segment of the Official List and admitted to trading on the Main Market of the London Stock Exchange.  The Agreement, as amended on 26 October 2021, includes a long stop date for the satisfaction of all conditions of 31 December 2021.  Path and its advisers are making very good progress with the Proposed Transaction and in order to allow time to conclude matters, including convening in January 2022 the required General Meeting of Path shareholders, it has been agreed with DG Innovate to extend the long stop date for the satisfaction of all conditions to 28 February 2022.

Further announcements will be made in due course, as appropriate.  In the meantime, Path's shares will remain suspended from trading on the London Stock Exchange.

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU No. 596/2014) which is part of UK law by virtue of the European Union (withdrawal) Act 2018. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

For further information please contact:

Path Investments plc	C/O IFC
Christopher Theis Jack Allardyce
IFC Advisory (Financial PR & IR)	020 3934 6630
Tim Metcalfe Zach Cohen
Grant Thornton UK LLP (Financial Adviser) Samantha Harrison Harrison Clarke Daphne Zhang	020 7383 5100
ETX Capital (Broker)	020 7392 1400
Tom Curran
Thomas Smith

 

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