20 May 2025
TruSpine Technologies plc
("TruSpine" or the "Company")
Update on AQSE Fine
TruSpine Technologies Plc, the medical device company focused on the spinal (vertebral) stabilisation market, announces that, following a Warning Notice issued by Aquis Stock Exchange ("AQSE") on 1 May 2025, AQSE Regulation has decided to enforce £15,000 of the £165,000 suspended element of the £215,000 fine originally imposed on the Company under the Disciplinary Decision Notice published on 16 August 2023.
The fine will be settled from the Company's existing cash resources. The remaining £150,000 of the suspended fine remains in place and may become payable should the Company breach the AQSE Growth Market Rules at any time up to 16 August 2026.
The enforcement action relates to the Company's delayed announcement of the issue of 7,103,623 new ordinary shares ("Creditor Shares") issued on 28 March 2025, which was not notified to the market until the Company's "Issue of Equity" announcement on 25 April 2025.
The Company has taken steps to strengthen its systems and controls procedures to prevent any recurrence.
This announcement contains inside information for the purposes of the UK Market Abuse Regulation and the Directors of the Company are responsible for the release of this announcement.
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TruSpine Investor Hub |
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TruSpine Technologies Plc |
Tel: +44 (0)20 7118 0852 |
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Geoff Miller, Non-executive Chairman |
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Cairn Financial Advisers LLP (AQSE Corporate Adviser) |
Tel: +44 (0)20 7213 0880 |
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Liam Murray / Ludovico Lazzaretti |
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Peterhouse Capital Limited (Broker & Financial Adviser) |
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Lucy Williams / Duncan Vasey |
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Novus Communications (PR and IR) |
Tel: +44 (0)1273 704 473 |
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Alan Green / Jacqueline Briscoe |
Caution regarding forward looking statements
Certain statements in this announcement, are, or may be deemed to be, forward looking statements. Forward looking statements are identified by their use of terms and phrases such as ''believe'', ''could'', "should" ''envisage'', ''estimate'', ''intend'', ''may'', ''plan'', ''potentially'', "expect", ''will'' or the negative of those, variations or comparable expressions, including references to assumptions. These forward-looking statements are not based on historical facts but rather on the Directors' current expectations and assumptions regarding the Company's future growth, results of operations, performance, future capital and other expenditures (including the amount, nature and sources of funding thereof), competitive advantages, business prospects and opportunities. Such forward looking statements reflect the Directors' current beliefs and assumptions and are based on information currently available to the Directors.