IFG withdrawal from heads of terms

RNS Number : 3602V

Hawkwing PLC

13 December 2021

 

THIS ANNOUNCEMENT, INCLUDING THE INFORMATION CONTAINED IN IT, IS RESTRICTED AND IS NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, OR THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH PUBLICATION, RELEASE OR DISTRIBUTION WOULD BE UNLAWFUL.

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF REGULATION (EU) 596/2014, WHICH IS PART OF DOMESTIC UK LAW PURSUANT TO THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS 2019 (SI 2019/310) ("UK MAR"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION (AS DEFINED IN UK MAR) IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

13 December 2021

Hawkwing plc 

("Hawkwing" or the "Company")

Internet Fusion Group Limited withdrawal from heads of terms

Hawkwing plc (LSE: HNG) has been advised by Internet Fusion Group Limited ("Internet Fusion Group" or "IFG") that it has terminated discussions regarding the arrangements referred to in the heads of terms set out in the announcement of 12 July 2021 and as a consequence the reverse takeover by Hawkwing of IFG will no longer go ahead.

The secured loan of £13.7 million made to IFG by the Company, which IFG used to acquire Northcore Limited and Shade Ltd (trading as Shade Station) remains in place.

A request will be made for the listing of the Company's shares to be restored.

For the purposes of UK MAR, the person responsible for arranging for the release of this announcement on behalf of Hawkwing is Keith Sadler, Senior Independent Non-Executive Director.

- Ends -

Enquiries:

Hawkwing plc
Keith Sadler, Senior Independent Non-Executive Director	[phone]
Luther Pendragon
Harry Chathli, Alexis Gore	[phone]

For more information, please refer to the Company's website:  www.hawkwing.co  

 

END

 

 

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