13 September 2024
IKIGAI VENTURES
LIMITED
("Ikigai" or the
"Company")
Company Update
Ikigai Ventures Limited (LON:IKIV),
a special purpose acquisition company (SPAC)
listed on the Main Market of the London Stock Exchange, established
to acquire dynamic, high-growth businesses in
sectors such as healthcare, finance, agriculture, mining, and
artificial intelligence, which demonstrate strong ESG
(Environmental, Social, Governance) credentials, confirms
that following the implementation of the UK Financial Conduct
Authority's new Listing Rules for the Main Market of the London
Stock Exchange ("UKLR"), which became effective from 29 July 2024
("Implementation Date"), the Company has been mapped into the
Equity shares (shell companies) category and will be subject to the
transitional provisions of the UKLR. This means that the
Company will have one year from the Implementation Date to complete
their operations, if they can be completed during the transition
period, or make the necessary changes to comply with the additional
requirements set out in the UKLR.
Upon the first anniversary of the Implementation
Date, under the UKLR, the transition period will expire, and the
Company will have an initial 24 month period (to 28 July 2027), to
complete an appropriate transaction, which can be extended by an
additional 12 month periods up to three times with the approval of
the Company's shareholders.
The Company is actively engaged with several
potential acquisition targets and will update the market as
appropriate.
Kane Black, CEO
of Ikigai Ventures, commented: "Following a challenging period for capital
markets in 2022 and 2023, marked by a global slowdown in IPO
activity, 2024 has seen a rebound in public listings, particularly
on the London Stock Exchange, with several successful IPOs.
This resurgence has expanded the pool of potential targets
for Ikigai and we are actively pursuing opportunities with
innovative tech companies from the UK, Europe, and Asia-Pacific.
While we remain confident of concluding a transaction in the
near future, the new UK Listing Rules offer the Company enhanced
certainty for shareholders regarding the timeline for completing a
transaction."
For further
information please contact:
|
Ikigai Ventures
Limited
|
Via IFC
|
|
Kane Black, CEO
|
|
|
Cosign Limited
(Company Secretary)
|
+44 (0)1481 211 000
|
|
|
|
|
Strand Hanson
Limited (Financial Advisor)
Rory Murphy / Abigail Wennington
|
+44 (0) 207 409 3494
|
|
Novum
Securities (Broker)
Colin Rowbury
|
+44 (0) 207 399 9400
|
|
|
|
|
IFC Advisory
Limited (Financial PR and IR)
|
+44 (0) 203 934 6630
|
|
Tim Metcalfe
Zach Cohen
|
|