Statement re Suspension


 
TIDMPARO 
 
30 March 2009 
 
                                   ParOS plc 
 
                          ("ParOS" or "the Company") 
 
                           Statement re: Suspension 
 
Further to previous announcements regarding the search for a potential 
acquisition target in accordance with the Company's investment strategy, as 
approved by shareholders on 28 March 2008, the Company has, to date, been 
unable to complete any such acquisition and in accordance with Rule 15 of the 
AIM Rules trading in the Company's shares on AIM has been suspended with effect 
from 7.00 a.m. today. 
 
Following the suspension of the Company's shares from trading on AIM, the 
Company is able to announce that it signed non-legally binding heads of terms 
on 25 February 2009 for the acquisition of a business in accordance with its 
investment strategy. The consideration for the business is intended to be 
satisfied by the issue of new ordinary shares in ParOS. 
 
In view of the relative size of the business, the proposed transaction would be 
classified as a reverse takeover of ParOS under the AIM Rules and accordingly 
the acquisition would be subject, amongst other things, to approval by the 
shareholders of the Company. A considerable amount of work has yet to be 
undertaken by ParOS to conclude the transaction. As a result, ParOS shares will 
remain suspended until an admission document containing full details of the 
proposed acquisition and of the enlarged entity is published and a general 
meeting of the Company is convened to approve the acquisition. There can be no 
certainty that any such transaction will be concluded or as to the terms on 
which any such acquisition may be made. 
 
In the event that the acquisition or another reverse takeover transaction is 
not effected by 28 September 2009, trading in the Company's shares on AIM will 
be cancelled. 
 
A further announcement will be made in due course. 
 
Enquiries: 
 
ParOS plc 
 
Patrick McHugh 020 3008 8223 
 
John East & Partners Limited 
 
Simon Clements / David Worlidge 020 7628 2200 
 
Square 1 Consulting Limited 
 
Mike Feltham / David Bick 020 7929 5599 
 
 
 
END

Paros (LSE:PARO)
Graphique Historique de l'Action
De Nov 2024 à Déc 2024