-
07 August 2025 07:09:08
- Source: Sharecast
For immediate release
7 August 2025
Argentex Group plc
("Argentex" or the "Company")
Termination of recommended cash acquisition by IFX (UK) Limited
Further to the announcement by IFX (UK) Limited ("IFX") earlier today, the Company notes that IFX has received the Panel's consent to invoke condition 3(l)(xii) as set out in the Company's Scheme Document published on 21 May 2025, in accordance Rule 13.5(a) of the Takeover Code.
As such, IFX's recommended cash offer for the entire issued and to be issued share capital of the Company has now lapsed. Accordingly, the Company is no longer in an 'Offer Period' as defined in the Takeover Code.
As previously announced, the Company appointed Special Administrators to Argentex LLP on 21 July 2025, and Argentex Group plc and Argentex Technologies Limited were placed into Administration under the Insolvency Act 1986 on 24 July 2025.
The Company's shares remain suspended from trading on AIM. As announced on 1 August 2025, if the Company does not appoint a Nominated Adviser by 31 August 2025, the admission of the Company's securities will be cancelled on AIM.
Capitalised terms used in this announcement shall, unless otherwise defined, have the meanings set out in the Company's Scheme Document dated 21 May 2025.
For further information, please contact:
Argentex Group PLC
investorrelations@argentex.com
FRP Advisory Trading Limited
Argentex@frpadvisory.com
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.