Gloo Networks PLC Update on acquisition strategy (1958J)
March 28 2018 - 2:01AM
UK Regulatory
TIDMGLOO
RNS Number : 1958J
Gloo Networks PLC
28 March 2018
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS
RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN
WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM THE
UNITED STATES, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA, AND ANY
MEMBER STATE OF THE EEA (OTHER THAN THE UK) OR ANY OTHER
JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION
WOULD BREACH APPLICABLE LAW. THIS ANNOUNCEMENT HAS NOT BEEN
APPROVED BY THE LONDON STOCK EXCHANGE, NOR IS IT INTENDED THAT IT
WILL BE SO APPROVED.
28 March 2018
Gloo Networks plc
Update on acquisition strategy
The board of directors of Gloo Networks plc ("Gloo" or the
"Company") announces it is continuing to review acquisition
opportunities, following recent discussions with a potential
target. However, Gloo is no longer considering a reverse takeover
or the issue of additional shares on AIM in respect of this
opportunity.
After the payment of transaction expenses, Gloo's cash balance
is expected to be in the range of GBP12 million to GBP14 million,
or 47 pence to 55 pence per share, at 31 March 2018.
Enquiries:
Gloo Networks plc
Rebecca Miskin, Chief Executive Officer (through Teneo Blue
Rubicon)
Liberum Capital Limited (Nominated Adviser and Joint Broker)
Tel: +44 20 3100 2000
Neil Elliot
Chris Clarke
Jonathan Wilkes-Green
Numis Securities Limited (Joint Broker)
Tel: +44 20 7260 1000
Nick Westlake
Michael Wharton
Jamie Loughborough
Teneo Blue Rubicon (Financial communications adviser)
Tel: +44 20 7240 2486
Paul Durman +44 7793 522 824
Anushka Mathew +44 7824 440 915
The information contained within this announcement is deemed by
the Company to constitute inside information under the Market Abuse
Regulation (EU) No. 596/2014.
Rebecca Miskin is Chief Executive Officer of Gloo Networks plc,
which has its offices at 20 Buckingham Street, London WC2N 6EF and
has the LEI 21380078XGCMNMEIU311.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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