Business
Speculation over potential acquisition
Speculation over potential acquisition.
About this update from Team Internet Group Plc
[{"type":"text","content":"\n \nRNS Number : 7018H CentralNic Group PLC 14 March 2018 \n\nNOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA, JAPAN, JERSEY OR SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT\n \nThe information contained in this announcement is inside information for the purposes of article 7 of Regulation 596/2014.\n \n\n\n\n\nPress Release\n\n\n14 March 2018\n\n\n\n\n \nStatement regarding speculation over potential acquisition or Reverse Takeover (\"RTO\")\n \nCentralNic Group Plc (or \"the Company\" or \"CentralNic\"), the global software platform company supporting subscription-based web services including domain names, notes recent industry speculation. The Company confirms that discussions are taking place (\"the proposed transaction\") regarding the potential combination of CentralNic and KeyDrive S.A. (or \"KeyDrive Group\") and its subsidiaries including leading domain reseller platforms and the corporate registrar BrandShelter. \nThe Boards of CentralNic and KeyDrive Group believe that the combination of the two businesses would have strong strategic logic and economies of scale, and would represent an opportunity to create a group with advanced technology platforms delivering significant recurring revenues for every major customer type within the industry. \nThe Board of CentralNic currently anticipates the transaction will be completed in the second quarter of 2018. Discussions are still ongoing and there can be no certainty that a transaction will occur. \nZeus Capital Limited is acting as Nominated Adviser and Joint Broker to CentralNic and N+1 Singer Capital Markets Limited is acting as Joint Broker. \nIf the transaction proceeds, it will constitute a reverse takeover by CentralNic in accordance with Rule 14 of the AIM Rules for Companies. Accordingly, Ordinary Shares in CentralNic have been suspended from trading on AIM with immediate effect, pending either publication of an admission document containing detailed information on the proposed transaction or the termination of discussions regarding the proposed transaction. \nA further announcement will be made when appropriate. \nFor further enquiries:&nbs...