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Stratex International Plc 

(“Stratex” or the "Company”)

Suspension of trading on AIM

 

Stratex International Plc, the AIM-quoted gold exploration and development company, announces that it is aware that David Hall and Paul Foord, who form part of the requisition group (the ‘Requisition Group’) have proposed a possible merger of Thani Stratex Limited and the Company (see announcements on 19 September and 24 October) (“Thani Stratex Merger Proposal”). The Requisition Group have confirmed that the Thani Stratex Merger Proposal would be reviewed in detail should the resolutions put forward by the Requisition Group be passed at the General Meeting to be held today.

The Thani Stratex Merger Proposal may constitute a reverse takeover under Rule 14 of the AIM Rules for Companies, which would require the Company's ordinary shares to be suspended from trading on AIM, pending publication of an AIM admission document and circular to shareholders to approve a reverse takeover; or an announcement that the Thani Stratex Merger Proposal has been terminated; or an announcement of the terms of  a transaction that would not constitute a reverse takeover in relation to the Thani Stratex Merger Proposal.

Accordingly, the Company has agreed that the Company's shares will be suspended from trading on AIM at 7:30 am on 1 November pending announcement of the results of the General Meeting.

 

Further announcements will be made, as appropriate, in due course.

 

 

** ENDS **

 

For further information please visit www.stratexinternational.com, @StratexPLC on Twitter,                 email info@stratexplc.com, or contact:

 

 

Stratex International Plc

Tel: +44 (0)20 7830 9650

Marcus Engelbrecht / Claire Bay

 

Grant Thornton UK LLP

Tel: +44 (0)20 7383 5100

Samantha Harrison / Daniel Bush

 

Hannam & Partners

Tel: +44 (0)20 7907 8500

Neil Passmore / Andrew Chubb

 

 

Camarco

Tel: +44 (0)20 3757 4980

Gordon Poole / Nick Hennis / Monique Perks

 

                                                      

 

Notes to Editors: 

Since listing in 2006, Stratex has discovered more than 2.2 million ounces of gold and 7.09 million ounces of silver, as well as 186,000 tonnes of copper. The Company owns 15% of a copper-gold project at feasibility stage and an exciting exploration project in Senegal. The Company also has significant interests in Thani Stratex Resources Ltd and Tembo Gold Corp. for their exploration projects in Djibouti and Egypt, and Tanzania respectively.

 

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014.

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