Metro Baltic Horizons PLC Proposed Suspension of Trading and delisting (7592G)
May 09 2014 - 10:25AM
UK Regulatory
TIDMMET
RNS Number : 7592G
Metro Baltic Horizons PLC
09 May 2014
Metro Baltic Horizons plc (MET.L)
("Metro Baltic Horizons" or the "Company")
9 May 2014
Proposed suspension of trading and delisting
For immediate release
Following the completion of the disposal of the Company's
remaining property assets the Company had twelve months to make an
acquisition or acquisitions which constitute a reverse takeover
under the AIM Rules or otherwise implement its current investing
policy in accordance with Rule 15 of the AIM Rules for Companies or
face suspension of the trading of its shares on AIM.
The Company hereby gives notice that, in accordance with the AIM
Rules, trading in the Company's shares will be suspended with
effect from 7.30am on Tuesday 15 July 2014 ("Proposed
Suspension").
Following the disposal of its remaining property assets, the
Company's strategic focus has been on the pursuit of litigation
against the Company's former Board and its advisers rather than the
implementation of its investing policy. Some success in this
strategy has already been announced and the Board is continuing
with this approach.
The Company's board of directors, in conjunction with its
professional advisers, is considering proposals to be put to
shareholders relating to a potential distribution and the continued
listing of the Company's shares. The Company intends to put
proposals to shareholders at a general meeting to be called and
held in advance of the Proposed Suspension.
It is intended that the Company will announce its results for
the year ended 31 December 2013 by no later than the second week in
June 2014.
Enquiries
Metro Baltic Horizons plc.
Ronan Reid Tel: +353 1 6333843
S. P. Angel Corporate Finance LLP
Stuart Gledhill Tel: 020 3463 2260
Further information
This announcement will be available on MBH's website
http://www.metrobaltichorizons.com/ as soon as practicable in
accordance with AIM Rule 26.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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