Business
Proposed cancellation of trading on AIM
Proposed cancellation of trading on AIM.
About this update from Hvivo Plc
[{"type":"text","content":"\n \nRNS Number : 9043Y hVIVO plc 06 January 2020 \n\nhVIVO plc\n \n(\"hVIVO or the \"Company\")\n \nNotification pursuant to AIM Rule 41\n \nProposed cancellation of trading on AIM\n \nThe Board of hVIVO (the \"Board\") notes the announcement on 31 December 2019 by Open Orphan Plc (\"Open Orphan\") that its recommended all-equity offer to acquire the entire issued and to be issued ordinary share capital of hVIVO (the \"Offer\") has become unconditional as to acceptances.\n \nOpen Orphan has acquired, or agreed to acquire hVIVO Shares representing in excess of 75 per cent. of the voting rights of hVIVO. Accordingly, at the request of Open Orphan, and as set out in the Offer Document dated 9 December 2019, the Board has applied for the cancellation of admission to trading on AIM of hVIVO Shares (the \"Delisting\").\n \nFurther to the Company's previous announcements in relation to the Delisting, the Company confirms that it has agreed with AIM that the Delisting is expected to occur on 20 January 2020, being the date of the proposed Admission of the Enlarged Open Orphan Share Capital. Admission of the hVIVO Shares to trading on AIM will be cancelled without the requirement for a resolution of shareholders approving such cancellation pursuant to Rule 41 of the AIM Rules.\n \nIt is anticipated that the cancellation of listing and trading will take effect on or shortly after 7.00 a.m. (London time) on 20 January 2020.\n \nThe Delisting will significantly reduce the liquidity and marketability of any hVIVO Shares not acquired by Open Orphan and the Board therefore recommends those hVIVO Shareholders who have not already accepted the Offer to accept the Offer as soon as possible. The procedure for acceptance of the Offer is set out in the Offer Document.\n \nThe Offer remains subject to fulfilment of all other conditions set out in Part III of the Offer Document, and has not yet been declared unconditional in all respects.\n \nCapitalised terms used but not otherwise defined in this announcement have the meanings given to them in the Offer Document.\n \nFor further information please contact:\n \nhVIVO plc ...