Albert Technologies amends timetable for proposed delisting from LSE

Maria Nikolova

If the shareholders approve the delisting, it is anticipated that trading in Albert’s ordinary shares on AIM will cease at close of business on August 28, 2019.

AI marketing expert Albert Technologies Ltd (LON:ALB) has earlier today amended the timetable related to the proposed cancellation of admission to trading on AIM.

Let’s recall that, on July 16, 2019, Albert Technologies announced its plans to delist from LSE’s AIM. An Extraordinary General Meeting will be held at Bryan Cave Leighton Paisner LLP, Adelaide House, London Bridge, London, United Kingdom EC4R 9HA at 10 am on 20 August 2019, at which the approval of shareholders of the delisting will be sought.

In the announcement issued today, Albert Technologies advises that in the event that Shareholders approve the Delisting at the Extraordinary General Meeting on August 20, 2019, it is anticipated that trading in the Ordinary Shares on AIM will cease at close of business on August 28, 2019 and cancellation of admission to trading on AIM of the Ordinary Shares will become effective at 7.00 a.m. UK time on August 29, 2019.

Commenting on the proposal, Or Shani, CEO of Albert Technologies said:

“Albert is a very different company to the one that listed on AIM four years go. The Company is now an early-stage disruptive technology company, targeting the enterprise market, and operating in an emerging technology environment.

“It will be necessary to seek additional funds and the Directors believe that it is in the best interests of the Company to secure a strategic or financial investor with knowledge of the company’s core markets, who can assist the Company with accelerating the distribution of the company’s proprietary technology, expand its revenue growth and increase its market penetration in the enterprise market. These types of investors are unlikely to be forthcoming whilst the company remains admitted to trading on AIM.“

Lisa Gordon, Chair of Albert Technologies, said:

“The Directors believe the current market valuation does not reflect the Albert’s market opportunity, the value of its technology, its current and potential client list, and the overall progress we have made in the enterprise market in the last two years. On the contrary, the Board believes it negatively impacts the company’s business, its potential for growth and our ability to raise necessary further funding through the public markets is significantly constrained. As a result, we do not believe that remaining listed on AIM is in the best interests of the Company and its shareholders”.

Read this next

blockdag

BlockDAG’s $28.5M Presale Ignites Investor Frenzy! Dashboard Upgrade Unveils Top Rankings, Overshadowing Retik Finance Listings!

Learn how BlockDAG’s updated dashboard, featuring detailed community rankings, is diverting investor interest from Retik Finance’s anticipated market entries.

Digital Assets

Gala Games reportedly hacked for $200 million, token nosedives

The native token of crypto gaming project Gala Games (GALA) dropped sharply amid rumors of a massive transfer worth over $200 million that traders suspected might be a hack.

Digital Assets

Ether skyrockets amid rumors of spot ETF approval

The chances of the U.S. government approving spot Ether ETFs have increased, according to top Bloomberg ETF analysts. Initially viewed as unlikely, analysts James Seyffart and Eric Balchunas now see a 75% chance of approval, up from 25%, following recent developments.

Digital Assets

New York judge approves $2 billion settlement with Genesis

A New York bankruptcy judge has approved a $2 billion settlement between the New York State Attorney General’s office and crypto lender Genesis, marking the largest settlement against a crypto firm in the state’s history.

Fundamental Analysis, Market News, Tech and Fundamental

Global FX Market Summary: Federal Reserve Policy, ECB, Geopolitical Tensions, May 20 ,2024

Fed holding rates to fight inflation, ECB likely cuts June rates, geopolitical tensions favor safe-haven USD

Digital Assets

Grayscale CEO steps down, replaced by Goldman Sachs veteran

Grayscale CEO Michael Sonnenshein after 10 years with the digital asset investment firm, the company said on Monday.

blockdag

Influencers Fuel BlockDAG’s $28.4M Presale Amid Solana Price Surge & Kaspa Bull Run

Dive into BlockDAG’s presale success, boosted by influencer endorsements. Explore the Solana price surge and Kaspa’s bullish sentiments.

Market News, Tech and Fundamental, Technical Analysis

EURGBP Technical Analysis Report 20 May, 2024

EURGBP currency pair can be expected to fall further toward the next support level 0.8525, which is the low of the previous corrective wave ii.

Digital Assets

Pump.fun exec arrested for $1.9 million exploit, claims bail in UK

Jarett Dunn, a former employee of the memecoin creator and trading platform pump.fun, claims he was arrested and subsequently released on bail in the United Kingdom following a $1.9 million exploit on the platform.

<