Watchstone Group PLC Intention to apply for admission to the AQSE (3737W)
April 23 2021 - 2:00AM
UK Regulatory
TIDMWTG
RNS Number : 3737W
Watchstone Group PLC
23 April 2021
Watchstone Group plc
( " Watchstone " or the "Company")
INTENTION TO APPLY FOR ADMISSION TO THE AQUIS STOCK EXCHANGE
Watchstone Group plc (LON:WTG) announces that it intends to
apply for admission of its Ordinary Shares to trading on the Access
segment of the AQSE Growth Market operated by the Aquis Stock
Exchange (AQSE). It is expected trading will commence on 30 April
2021.
In accordance with AIM Rule 15 of the AIM Rules for Companies
(the "AIM Rules"), the disposal of the ingenie business in November
2020 constituted a fundamental change of business and the Company
was classified by AIM as an AIM Rule 15 cash shell. In accordance
with AIM Rule 40, as six months have now passed since the disposal,
the Company's Ordinary Shares will be suspended from trading on AIM
pursuant to AIM Rule 40 on 4 May 2021.
Watchstone is now a group with a number of litigation assets,
contingent liabilities and cash. Litigation in relation to the
historic activities of the Group is being pursued where it is
considered that the Group has a strong case and where the Board
having taken advice, expects a successful outcome in favour of the
Group. These include claims against PricewaterhouseCoopers LLP,
Aviva Canada Inc, HMRC as well as other potential claims currently
in contemplation. The Group expects to initiate a claim against its
former auditor, KPMG LLP, in respect of its audit of the Group's
accounts for the year ended 31 December 2013.
In selecting the AQSE Growth Market, the Board were keen to
provide shareholders with the services of a regulated market and a
trading facility while it pursues its litigation assets and its
strategy unfolds.
The Group intends to make further cash returns to shareholders
as appropriate as its litigation assets are resolved and will
continue to consider other commercial opportunities that present
themselves in areas where the Board have commercial and/or legal
experience.
Pursuant to AIM Rule 41, the Company hereby gives notice of the
intended cancellation of trading of its Ordinary Shares on AIM
following the Company's 2021 Annual General Meeting to be held
later this year. The Company's shares will continue to be available
for trading on the Access segment of the AQSE Growth Market.
The Company's shares will continue to be registered with the
existing ISIN number GB00BYNBFN51 and SEDOL number BYNBFN5. The
Company's ticker symbol will continue to be WTG.
Watchstone Group plc Tel: 03333 44804
WH Ireland Limited , Nominated Adviser Tel: 020 7220 1666
and broker
Chris Hardie
Lydia Zychowska
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
MSCFLFVTSIIFFIL
(END) Dow Jones Newswires
April 23, 2021 02:00 ET (06:00 GMT)
Watchstone (LSE:WTG)
Historical Stock Chart
From Aug 2024 to Sep 2024
Watchstone (LSE:WTG)
Historical Stock Chart
From Sep 2023 to Sep 2024