13 Mar Withdrawal from Proposed Transaction
Further to the announcement made on 1 March 2019, Path Investments plc (TIDM: PATH), provides an update regarding the Heads of Agreement the Company entered into with ARC Marlborough Pty Limited (“ARC”) in relation to the proposed acquisition of ARC by the Company (the “Proposed Transaction”), originally announced on 18 January 2019.
As part of its preliminary steps towards a definitive Share Purchase Agreement, Path undertook initial technical, legal and corporate due diligence in relation to ARC, its directors and the mining lease ML80098 in Queensland, Australia. Following this initial work, after due Board consideration and discussion with Path’s advisers, the Company has informed ARC of its withdrawal from the Proposed Transaction.
This announcement is inside information for the purposes of Article 7 of Regulation 596/2014.
For further information:
Path Investments plc
Christopher Theis, Andy Yeo +44 (0) 20 3934 6630
Shard Capital (Financial Adviser and Broker)
Simon Leathers, Damon Heath +44 (0) 20 7186 9900
IFC Advisory (Financial PR & IR)
Tim Metcalfe, Heather Armstrong, Miles Nolan +44 (0) 20 3934 6630