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Highway Capital Plc announced on 25 September 2024 that it has ceased discussions regarding a reverse takeover with Guinevere Capital Esports & Entertainment, first announced on 11 October 2021. The Company confirmed it is working on a proposed Corporate Restructuring, which includes the conversion of debt into shares and raising additional capital. Highway Capital Plc is targeting the publication of its 2023 and 2024 Annual Reports in November 2024, conditional on completing the Corporate Restructuring.
| Date | 25 Sept 2024 |
| Time | 10:04:08 |
| Category | Corporate updates |
| ID | 6214F |
25 September 2024
Highway Capital Plc
("Highway" or the "Company")
Corporate Restructuring and Termination of RTO
Highway Capital Plc (LON:HWC), the London Stock Exchange Standard listed company, announces it has ceased discussions regarding any reverse takeover transaction with Guinevere Capital Esports & Entertainment ("Guinevere"), first announced on 11 October 2021.
The Company further confirms that it is working with its advisers on a proposed Corporate Restructuring ("Corporate Restructuring") which includes conversion of debt into shares and raising additional capital.
The Company is targeting the publication of the 2023 and 2024 Annual Report in November 2024 but this is conditional upon the Company completing the Corporate Restructuring. There is currently no certainty that the Company will be able to complete the Corporate Restructuring as this process is dependent on a number of factors, including, inter alia, shareholder approval and successful restoration of the Company's listing.
For further information, please visit www.highwaycapital.co.uk or contact the following:
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Highway Capital Plc |
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Peterhouse Capital (Corporate Broker) |
020 7220 9797 / 020 7469 0936 |