Curzon Energy PLC (LON:CZN) has requested a suspension of its shares from Wednesday, November 11, 2020, as it continues to work on a potential transaction with Sun Seven Stars Investment Group over an envisaged reverse takeover to acquire the London Critical Metals Market.
Earlier this month, an exclusivity period between the parties ended though talks and due diligence work have continued.
“While the parties continue to work constructively towards a potential transaction, there can be no certainty around the length of time required to reach definitive agreement or the likelihood of concluding a potential transaction, that would remain subject to due diligence, agreement on terms, and completion of the acquisition and re-listing of the enlarged group on the Official List,” Curzon said in a statement.
“As the company is currently unable to provide full disclosure on the potential transaction, it has requested a temporary suspension of listing in its ordinary shares, pending further progress on agreeing terms on a potential transaction.”
“The company will continue to update the market on progress as appropriate,” it added.