BSF Enterprise PLC Acquisition (2016T)
July 16 2020 - 2:48AM
UK Regulatory
TIDMBSFA
RNS Number : 2016T
BSF Enterprise PLC
16 July 2020
BSF Enterprise PLC
C/o Locke Lord LLP
201 Bishopsgate
London EC2M 3AB
16 Ju ly 2020
BSF Enterprise Plc (the "Company")
Proposed extension of acquisition period and strategy
General Meeting
Since its admission to the London Stock Exchange and the
Official List of the UK Listing Authority (standard segment), the
Company has focused on identifying and pursuing acquisition targets
within the innovation marketing and technology sector further to
the Company's acquisition criteria as described in its prospectus
dated 19 July 2019 ("Prospectus").
In line with the statements contained in its Prospectus, if an
acquisition had not been announced within 12 months of admission
(which took place on 26 July 2019), the board of directors (the
"Board") must recommend to shareholders that the Company continue
to pursue an acquisition for a further 12 months from the first
anniversary of admission or that the Company be wound up (in order
to return capital to shareholders to the extent assets are
available). The Board's recommendation must then be put to a
shareholder vote from which the Directors will abstain.
In light of the current economic climate against the backdrop of
the global Covid-19 pandemic, the Board considers it is in the best
interests of the Company's shareholders that the Company both
continue to seek acquisitions for a further 12 months and broaden
the sector focus of targeted acquisitions to include biotechnology
and life sciences in order to take advantage of one or more
acquisition opportunities which the Board believes will be
available to the Company in the near-term.
Accordingly, the Company is convening a general meeting of the
Company to be held at 11.30 am on Monday, 3 August 2020 at which
the Board will recommend shareholders to approve the proposed
extension of the acquisition period and strategy. The Directors
will abstain from voting at the general meeting.
A circular including a notice convening the General Meeting will
be despatched to shareholders today and will be available after
publication on the C ompany's website at www.bsfenterprise.com
** ENDS **
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014. Following the
publication of this announcement, this inside information is now
considered to be in the public domain.
LEI: 2138007PJT69H8FYLC06
Geoff Baker
Company Secretary
geoffbaker@asfgroupltd.com.
BSF Enterprise PLC
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END
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