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CategoryGWIK

Glenwick and the dangers of Cash Shells. Will she return?

Glenwick had its shares suspended this week from AIM for failing to do a reverse takeover within the deadlines permitted by AIM. The regulations state that an AIM investment company must do an acquisition within 12 months of listing, i.e. 5th September 2016. This means Glenwick now has 6 months, i.e. until 5th March 2017 to complete an acquisition or get booted off AIM, if that happened it would mean a costly readmission or perhaps the more likely scenario, never to see daylight again…

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