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Amphion Innovations - Cancellation of trading on AIM

RNS Number : 4459Y
Amphion Innovations PLC
31 December 2019
 

 

AMPHION INNOVATIONS PLC

 ("Amphion" or "the Company")

 

Cancellation of trading on AIM

 

 

London and New York, 31 December 2019 - Amphion Innovations plc (AIM: AMP), announces that pursuant to AIM Rule 41, the Company's ordinary shares ("Ordinary Shares") will be cancelled from trading on AIM at 7:00 a.m. on 2 January 2020 ("Cancellation").

 

On 27 June 2019, the Company announced that it would not be in a position to publish its audited financial statements for the year ended December 2018 ("2018 Accounts") by 30 June 2019 in accordance with the AIM Rules for Companies and accordingly suspension of trading in the Ordinary Shares on AIM ("Suspension") occurred on 1 July 2019.

 

Pursuant to AIM Rule 41, the Company had six months to publish the 2018 Accounts to prevent cancellation of the admission of its Ordinary Shares to trading on AIM. The Company remains highly cash constrained and unfortunately, despite efforts of the Directors the Company has not been able to secure additional funding in time in order to provide clarity over the Company's going concern status within this timeframe.  Those efforts will continue into the new year and the board looks forward to making a positive announcement about the Company's future early in the new year. Following Cancellation, future updates will be available on the Company's website.

 

The Board is considering a number of possibilities for the Company, which include a potential application for the Ordinary Shares to be admitted to trading on AIM at a later point in time.

 

 

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 ("MAR").

 

 

For further information please contact:

 

Amphion Innovations

Tel: +1 (212) 210 6224

Charlie Morgan




Panmure Gordon Limited (Nominated Adviser and Corporate Broker)

Tel: +44 (0)20 7886 2500

Emma Earl/ Freddy Crossley  (Corporate Finance)


Charles Leigh-Pemberton (Corporate Broking)




SP Angel Corporate Finance LLP (Joint Corporate Broker)

Tel: +44 (0) 20 3470 0470

David Hignell (Corporate Finance)


Vadim Alexandre (Corporate Broking)




Walbrook PR

Tel: +44 (0)20 7933 8780 or [email protected]

Anna Dunphy / Paul McManus




 

About Amphion Innovations plc

 

Amphion Innovations is a developer of medical, life science and technology businesses.

 

We use our extensive experience in company building to invest and build shareholder value in high growth companies in the US and UK. Amphion has significant shareholding in a few Partner Companies developing proven technologies targeting substantial commercial marketplaces. The Amphion model has been refined to optimise the commercialisation of patents and other intellectual property within the Partner Companies.

 

On the web: www.amphionplc.com 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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Market: AIM
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