Medcaw Investments Plc - Lifting of suspension & re-commencement of trading
PR Newswire
LONDON, United Kingdom, April 02
Medcaw Investments Plc
("Medcaw Investments" or the "Company")
2April 2025
Lifting of suspension & re-commencement of trading
Medcaw Investments plc (LSE:MCI), an acquisition vehicle, announces that the board of the Company has determined that Company will not be proceeding with the proposed reverse transaction of Abyssinian Metals Limited ("AML") as announced on 7 July 2023 at this stage. The board of the Company reached this conclusion as a result of the ongoing dispute between AML and the Federal Democratic Republic of Ethiopia (including Oromia State). The Company understands that AML continues to seek a resolution to the dispute with the Federal Democratic Republic of Ethiopia (including Oromia State) with regards to the ownership and operation of the Kenticha Lithium project. In relation to the Company's legal position in respect of AML, the Company is in the process of taking professional advice.
Medcaw will be seeking to lift its suspension and will re-commence trading on 2nd April 2025. The Directors will commence the search for a new acquisition target in due course.
This announcement contains inside information for the purposes of the UK Market Abuse Regulation and the Directors of the Company accept responsibility for the contents of this announcement.
ENDS
Enquiries:
Medcaw Investments Plc
Charlie Wood +44 (0)203 918 8797
For more information please visit: https://medcaw-invest.com/
Note:
Certain statements made in this announcement are forward-looking statements. These forward-looking statements are not historical facts but rather are based on the Company's current expectations, estimates, and projections about its industry; its beliefs; and assumptions. Words such as 'anticipates,' 'expects,' 'intends,' 'plans,' 'believes,' 'seeks,' 'estimates,' and similar expressions are intended to identify forward-looking statements. These statements are not a guarantee of future performance and are subject to known and unknown risks, uncertainties, and other factors, some of which are beyond the Company's control, are difficult to predict, and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements. The Company cautions security holders and prospective security holders not to place undue reliance on these forward-looking statements, which reflect the view of the Company only as of the date of this announcement. The forward-looking statements made in this announcement relate only to events as of the date on which the statements are made. The Company will not undertake any obligation to release publicly any revisions or updates to these forward-looking statements to reflect events, circumstances, or unanticipated events occurring after the date of this announcement except as required by law or by any appropriate regulatory authority.
