25 May Company Update
Path Investments plc (TIDM: PATH) is pleased to provide the following update. As previously announced, the Company intends to undertake a fund raising and to seek admission of the Company’s Ordinary Shares to trading on the AIM Market of the London Stock Exchange plc (“AIM”) (the “Proposed Transaction”) in conjunction with the completion of the acquisition of a 50% participating interest in an onshore producing conventional gas field, the Alfeld-Elze II Licence and Gas Field in Germany, located some 22 km south of Hannover. The Company confirms that progress continues to be made in preparing for the proposed admission to AIM and in delivering an efficient financial structure for the Proposed Transaction, but there can be no certainty at this time that it will be successfully completed.
In light of the complexities and timeline of the Proposed Transaction the Company was unable to finalise and publish its annual financial statements for the period ended 31 December 2017 by 30 April 2018. However, the audit of the Company’s annual financial statements is nearing completion and they are expected to be finalised and published in early June.
In order to complete the proposed fund raising and seek admission of the Ordinary Shares to trading on AIM in an orderly manner the Company’s shares will remain suspended from trading on the Main Market.
Further announcements will be made, as appropriate, in due course.
This announcement is inside information for the purposes of Article 7 of Regulation 596/2014.
For further information please contact:
|Path Investments plc Christopher Theis Andy Yeo||020 3934 6632|
|Shard Capital (Broker and Financial Adviser) Simon Leathers Damon Heath||020 7186 9900|
|IFC Advisory (Financial PR & IR) Tim Metcalfe Heather Armstrong Miles Nolan||020 3934 6630|