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Blockchain Worldwide (BLOC)

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Wednesday 07 November, 2018

Blockchain Worldwide

Proposed Acquisition and Suspension of Listing

RNS Number : 5547G
Blockchain Worldwide PLC
07 November 2018
 

 

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

 

Blockchain Worldwide plc

("Blockchain" or the "Company")

 

Proposed Acquisition and Suspension of Listing

 

 

The Company has made a non-legally binding offer to acquire the entire issued share capital of Chorum Group Limited, a company that falls within the Company's stated investment strategy ("Acquisition"). The Acquisition is subject to legal, financial and other due diligence, entry into a legally binding agreement in respect of the Acquisition and a successful fundraise.  As no binding agreement has been reached the directors of the Company cannot guarantee that the Acquisition will complete or provide any indication of a likely completion date.

 

Completion of the Acquisition would amount to a reverse takeover under the Listing Rules. The Company is currently unable to provide full disclosure in relation to the target company and accordingly has requested from the FCA a suspension of its listing with immediate effect. Listing of the Company's ordinary shares will remain suspended until such time as either the Acquisition, accompanying placing and re-admission is completed or a restoration request has been submitted and approved by the FCA.

 

The Company will continue to update the market as appropriate. 

 

 

For information please contact:

 

Blockchain Worldwide plc

www.bloc-worldwide.com

Rodger Sargent

via Walbrook PR



Walbrook PR Ltd

Tel: 020 7933 8780 or [email protected]

Paul Cornelius

Mob: 07866 384 707

Sam Allen

Mob: 07884 664 686

 


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