Paragon Resources PLC Statement re. Suspension (1835D)
2014年3月26日 - 4:00PM
RNSを含む英国規制内ニュース (英語)
TIDMPAR
RNS Number : 1835D
Paragon Resources PLC
26 March 2014
Paragon Resources PLC
("Paragon" or the "Company")
(AIM: PAR)
Suspension of Share Trading & Company Update
26 March 2014
Suspension of Share Trading
Further to the announcement of 15 May 2013, and following the
Company becoming an Investing Company (as defined in the AIM Rules
for Companies (the "AIM Rules")) on 25 March 2013, the Company
having not yet made an acquisition, or acquisitions, which
constitutes a reverse takeover under the AIM Rules or otherwise to
implement its Investing Policy to the satisfaction of AIM, by 25
March 2014, the Company's ordinary shares of 0.05p each ("Ordinary
Shares") will be suspended from trading on AIM with effect from
0730 today ("Suspension"). If the Company's Investing Policy has
not been implemented within 6 months of Suspension, then admission
of the Company's Ordinary Shares to trading on AIM will be
cancelled.
Company Update
The Board of Paragon is currently in active negotiation and is
undertaking due diligence on certain proposals. If these
negotiations were to prove successful and the transactions to be
completed, these would be expected to constitute a reverse takeover
under the AIM Rules. These negotiations are being pursued with the
intention of completion prior to 26 September 2014, when the
Company's Ordinary Shares would otherwise be cancelled from trading
on AIM, although there can be no assurance that a transaction will
be successfully completed, nor that it can be achieved in this
timescale. Further announcements will be made at the appropriate
time. The Board is fully committed to developing a substantial
agribusiness group, focussed on Africa, through a process of both
acquisition and organic growth and is confident that one of the
current proposals will form the right starting point.
ENDS
For further information, please contact:
Paragon Resources PLC Allenby Capital Limited
Simon Hunt (Nominated Adviser and Broker)
(Chairman) Nick Harriss/Jeremy Porter/James
+44 7733 337 755 Reeve
www.paragon-resources.com +44 20 3328 5656
www.allenbycapital.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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