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Amala Foods Plc requested a Temporary Suspension of its listing on the Standard Segment of the Official List of the Main Market, as announced on 09 November 2023. The Company stated it expects to enter into a binding agreement regarding a transaction that may lead to a Reverse Takeover.
| Date | 9 Nov 2023 |
| Time | 12:00:00 |
| Category | Corporate updates |
| ID | 9740S |
Amala Foods Plc
("Amala" or the "Company")
Temporary Suspension
Amala Foods Plc (LON: DISH) has requested a Temporary Suspension of its listing on the Standard Segment of the Official List of the Main Market. The Company expects to enter into a binding agreement in due course with regards to a transaction that may lead to a Reverse Takeover. The target company is a healthcare group with a Philippine subsidiary, Dialysis Care Plus Inc, that is building dialysis centres in the Philippines where the market for dialysis services is growing substantially every year. The team has an excellent track record with internationally known healthcare groups in the USA as well as locally in the Philippines. The valuation approach that is being considered is one whereby upon a successful transaction the valuation paid would be based upon a share consideration and a deferred share consideration determined by financial performance. The Company expects to conclude matters shortly and will provide further updates to the market this month.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION EU 596/2014 ("MAR").
Enquiries:
Jonathan Morley-Kirk, Non-Executive Chairman