The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
HERTSFORD CAPITAL PLC (“Hertsford” or “the Company”) Proposed Acquisition and Suspension of Listing Hertsford announces it is in discussions to acquire OTAQ Group Limited (“OTAQ”). OTAQ designs, develops and supports marine technology products and solutions for the global aquaculture and offshore oil and gas industries. Their marine technology portfolio includes a marketleading intelligent acoustic deterrent system, designed to protect marine-based aquaculture sites from predation, with multiple systems deployed in Scotland, Chile, Finland and Russia, see www.otaq.com. Hertsford and OTAQ have entered into non-legally binding heads of agreement providing for the acquisition by Hertsford of the entire issued share capital of OTAQ (“Proposed Acquisition”). The purchase price of the Proposed Acquisition will be satisfied by the issue of new Hertsford shares to the sellers of OTAQ. The Proposed Acquisition is subject to legal, financial and other due diligence and entry into a legally binding agreement. As no binding agreement has yet been reached, the Company cannot guarantee that the Proposed Acquisition will complete. However, due diligence and other technical work is at an advanced stage, and the Company’s Directors are optimistic that the Proposed Acquisition will be completed by the end of Q1 2020. As Hertsford is a cash shell, the Proposed Acquisition is deemed to be a reverse takeover under the Listing Rules, therefore the Company has requested the FCA to suspend its listing with immediate effect.
For information please contact: Hertsford Capital plc www.hertsford-capital.com
Rodger Sargent via Walbrook PR Walbrook PR Ltd Tel: 020 7933 8780 or [email protected] Nick Rome