Draganfly Investments Ltd Update and Notice of EGM (1006A)
21 Marzo 2017 - 8:10AM
UK Regulatory
TIDMDRG
RNS Number : 1006A
Draganfly Investments Ltd
21 March 2017
21 March 2017
Draganfly Investments Limited
("Draganfly" or the "Company")
Update and Notice of EGM
Given that the company's investments are now immaterial, and its
assets are predominantly in cash, the Company is now regarded as an
AIM Rule 15 cash shell and accordingly must announce a reverse
takeover or seek readmission as an investing company within 12
months from the date of this announcement pursuant to paragraph 5.6
of the AIM Note for Investing Companies. If no such transaction is
announced within that period, the Company's shares will be
suspended pursuant to Rule 15.
In order to fund the professional fees that will be incurred in
such a transaction, the Board wish to have the discretion to issue
up to a further 100 million new ordinary shares. The Board have,
accordingly, called an Extraordinary General Meeting on 12 April
2017 to give them the requisite authorities.
A notice of the Extraordinary General Meeting will be available
on the Company's website shortly.
For further information please contact:
T Edward G Bayman +44 (0) 1534 787898
Dennis Edmonds +44 (0) 7796 338 372
Jon Belliss
Beaufort Securities Limited (Broker) +44 (0) 20 7382 8300
Tom Price / David Hignell
Northland Capital Partners (Nominated Adviser) +44 (0) 20 3861 6625
This information is provided by RNS
The company news service from the London Stock Exchange
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