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Blockchain Worldwide PLC   -  BLOC   

Proposed Acquisition and Suspension of Listing

Released 15:17 23-May-2019

RNS Number : 0380A
Blockchain Worldwide PLC
23 May 2019
 

23 May 2019 

 

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

 

Blockchain Worldwide plc

("Blockchain" or the "Company")

 

Proposed Acquisition and Suspension of Listing

 

The Company has made a non-legally binding offer to acquire the entire issued share capital of Entertainment AI, Inc, an artificial intelligence and machine learning focused company operating in the media space ("Acquisition"). The Acquisition is subject to, amongst other things, legal, financial and other due diligence, entry into a legally binding agreement in respect of the Acquisition and certain shareholder approvals being obtained.  As no binding agreement has been reached the directors of the Company cannot guarantee that the Acquisition will complete or provide any indication of a likely completion date.

 

Completion of the Acquisition would amount to a reverse takeover under the Listing Rules. The Company is currently unable to provide full disclosure in relation to the target company and accordingly has requested from the FCA a suspension of its listing with immediate effect. Listing of the Company's ordinary shares will remain suspended until such time as either: the Company publishes a prospectus or an AIM admission document relating to the Acquisition or a restoration request has been submitted and approved by the FCA.

 

The Company will continue to update the market as and when appropriate. 

 

 

For information please contact:

 

Blockchain Worldwide plc

www.bloc-worldwide.com

Rodger Sargent

via Walbrook PR





Walbrook PR Ltd

Tel: 020 7933 8780 or blockchainworldwide@walbrookpr.com

Paul Cornelius

Mob: 07866 384 707

Sam Allen

Mob: 07884 664 686

 

 

 

 

 


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.
 
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Proposed Acquisition and Suspension of Listing - RNS