Black Sea Property says it has been advised that the acquisition of properties that it is considering would not satisfy AIM that it was implementing its investment policy. The effect of this is that the company will have its admission to listing cancelled on 16 January.
The Board are mulling their options and will shortly be writing to shareholders to set out the options for the company and to convene a general meeting of the Shareholders to consider whether to continue seeking investment opportunities (with or without a listing for the Company’s shares) or to wind up the Company and distribute any surplus cash back to Shareholders.
BKSA : Black Sea Property mulling options as fails to implement investing policy