Monchhichi plc Update (6198T)
October 13 2017 - 12:59PM
UK Regulatory
TIDMMCC
RNS Number : 6198T
Monchhichi plc
13 October 2017
For Immediate Release 13 October 2017
Monchhichi Plc ("Monchhichi" or the "Company")
Update on proposed admission to the standard segment of the
Official List and cancellation of admission to trading on AIM
Progress Update
The Company announced on 22 September 2017 that it had reached
agreement on a primary investment of Euros10.0 million in
Sentiance, a leading and proven private technology player in the
exciting field of artificial intelligence ("AI"), machine learning
and behavioural data science. This represented a reverse takeover
under the AIM Rules.
The Company announced previously that it was proposing to seek
admission of the Company's entire issued share capital to the
standard segment of the Official List and to trading on the main
market for listed securities of the London Stock Exchange plc, and
to simultaneously cancel the trading of its issued share capital on
AIM. The proposed cancellation and admission was scheduled to take
effect at 8.00 a.m. on 16 October 2017 but will now be delayed.
The Company will hold its AGM on 24 October to approve, amongst
other things, the annual accounts for the period ended 31 March
2017. It is anticipated that around the same time the Company will
publish a circular to shareholders together with a Notice of a
General Meeting to approve the initial Sentiance investment and the
extension of the Company's Investment Policy. Both resolutions
require a simple majority vote and the Company is pleased to
announce that it has procured the necessary irrevocable voting
undertakings to pass these two resolutions.
Following the General Meeting, and requisite approval of the
prospectus by the UK Listing Authority, it is expected that the
ordinary shares of the Company would be admitted to the Standard
Segment of the Official List. It is expected that this will take
place contemporaneously with the proposed cancellation of the
Company's admission to AIM. This is now expected in early or
mid-November 2017.
For further information:
Buchanan (Financial communications)
Richard Oldworth / Henry Harrison-Topham Tel: +44 (0)20 7466
/ Catriona Flint 5000
monchhichi@buchanan.uk.com www.buchanan.uk.com
Enquiries: Tel: +44 (0)20 7886
Panmure Gordon (Nominated 2500
Adviser and Broker)
Dominic Morley / Alina Vaskina
Notes to the editors:
Monchhichi Plc (MCC.L) is a UK quoted company that focusses on
making conviction investments / acquisitions in people,
organisations and outstanding businesses with proven track records,
industry validated market positions and clearly visible disruptive
growth opportunities in the Technology, Media and Internet space
globally. For more please visit www.monchhichi.life
This information is provided by RNS
The company news service from the London Stock Exchange
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