26 Aug 2016 07:00
365Agile Group plc
("365Agile", the "Group" or the "Company")
Further re Company Update
Further to the announcement dated 22 August 2016, following the completion of the consultation, the Board has decided to close the Nottingham operations and staff have been given formal notice of termination of employment.
The Company continues to own the IP to the 365Agile suite of software solutions and will continue to receive the payments due from its licence agreement with Castleton Technology plc.
The Company is now deemed to be an AIM Rule 15 cash shell and has six months to make an acquisition or acquisitions which constitute a reverse takeover under Rule 14 of the AIM Rules or otherwise seek readmission as an investing company with the attendant requirement to raise at least £6 million on or immediately before such readmission.
Contacts:
365 Agile Group plc | +44 (0) 345 504 0365 |
Clive Carver, Non-executive Chairman
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finnCap Limited | +44 (0)20 7220 0500 |
Geoff Nash/Scott Mathieson
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MXC Capital Markets LLP | +44 (0)20 7965 8149 |
Charlotte Stranner/ Marc Young
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365.L (365)