Amala Foods Plc
("Amala" or the "Company")
Further re: Temporary Suspension
Amala Foods Plc (LON: DISH) is pleased to announce a further update following the Temporary Suspension of its listing on the Standard Segment of the Official List of the Main Market that was announced on 9 November 2023.
The Company is pleased to update the market that the transaction that was announced on 9 November 2023 regarding the group of Dialysis Care Plus Inc (Proposed Reverse Takeover) is progressing. Notwithstanding the combined market capitalisations of the target and the Company being anticipated to be less than £30 million, as the Company was deemed to be a cash shell immediately before 3 December 2021, it falls within the scope of the transitional provisions in respects of Listing Rule 2.2.7R.
Whilst the Directors are confident that the Proposed Reverse Takeover will be concluded prior to the end of the first quarter of 2024, there remain a number of regulatory consents unrelated to the post transaction market capitalisation that are normal for a transaction of this type that need to be obtained prior to the Proposed Reverse Takeover being concluded. Therefore, there can be no guarantee that the Proposed Reverse Takeover will be concluded, but the Company's shares will remain suspended while the transaction is ongoing. The Company will update the market in due course, including further details regarding the business of the Dialysis Care Plus Inc group.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION EU 596/2014 ("MAR").
Enquiries:
Jonathan Morley-Kirk, Non-Executive Chairman
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
