Business
Restoration to Trading & Update on Acquisition
Restoration to Trading & Update on Acquisition.
About this update from Valereum Plc
[{"type":"text","content":"\n\n\n\nThe information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (\"MAR\")\n \n27/11/2023\n\nValereum Plc\n\n(\"Valereum\" or the \"Company\")\n \nTermination of Proposed Acquisition & Restoration to Trading\n \nValereum Plc (AQSE: VLRM), the Gibraltar technology group, would like to provide the following update to its shareholders.\n \nOn the 31 August 2023, Valereum was suspended from trading on Aquis Stock Exchange following a potential Reverse Takeover relating to the acquisition of the Gibraltar Stock Exchange (GSX). \n \nDue to the current deal no longer proceeding after failing to secure the necessary funding to satisfy the change in control conditions set by the GFSC, under the previous management, the suspension to trade has been lifted and Valereum's shares will return to trading at 08:00am (GMT) today.\n \nThe Board is actively assessing original and new opportunities which will form part of the reformulated vision and strategy for Valereum. In our pursuit of transparency and accountability, we are acting on the following matters:\n \n1. The cancelation of all previous warrants issued, where applicable, signalling a fresh start for the Company; \n2. Redoubling our efforts to ensure an accurate shareholder register, based on the information in hand;\n3. Valereum recognises the importance of a clear financial landscape. As a matter of urgency, we will be conducting a comprehensive internal audit of the accounting records from the previous regime. This step not only aligns with our commitment to integrity but also ensures a robust foundation for our journey ahead, and our understanding of previous events (which will be shared on the website during Q1 2024);\n4. Valereum would also like to announce that we will be calling an AGM and inviting all shareholders to attend. Further details will be shared closer to the time. The aim of the AGM will be threefold:\n\n· for Valereum to introduce its new board \n· to share a...