(Correction) - THE MARKETING GROUP PLC: Has resolved to not file a new application for listing on Nasdaq First North and announces the Company’s intentions going forward
(Correction) - The Marketing Group Plc. has resolved to not file a new application for listing on Nasdaq First North and announces the Company’s intentions going forward
LONDON: 1 April 2019 – The Marketing Group Plc. (“TMG”, the “Company” or the “Group”), which trades as RYVL, announces that the Company has resolved to not file a new application for listing on Nasdaq First North. Thus, Nasdaq Stockholm (“Nasdaq”) will resolve to de-list TMG’s shares.
De-listing from Nasdaq First North
As previously announced on 17 March 2019, Nasdaq has initiated an investigation of the Company regarding whether the Company’s operations areconsidered to have changed substantially, a so-called “change of identity” under Section 2.6 of Nasdaq First North Nordic Rulebook of January 1, 2019 (the “Rulebook”). Nasdaq has through its investigation concluded that the Company’s operations have changed substantially, which results in a new listing process according to the Rulebook. Thus, Nasdaq has requested the Company to file a new application for admission to trading on Nasdaq First North on April 1, 2019, at the latest or otherwise Nasdaq may resolve to de-list the shares of TMG from Nasdaq First North.
After having carefully considered the current situation and the pros and cons of applying for a re-listing on Nasdaq First North, including the costs involved in such application process and the Company’s intentions for the future, the Board of Directors of TMG has resolved not to file a new application with Nasdaq. Consequently, Nasdaq will resolve to de-list the shares of TMG from Nasdaq First North.
Statement from the CEO
“It is my firm opinion that the TMG has not changed identity and that necessary steps have been taken to comply with the requirements of Nasdaq First North. In this respect TMG has continuously sought guidance from its Certified Adviser.
However, given the current situation and the future of TMG, the Board of Directors finds it to be advantageous for TMG to leave the Nasdaq First North trading platform as the value of the Company was not reflected in the share price. This situation enables us tofully implement a heavy turn-around strategy before applying for a future listing of the Company’s shares at a suitable listing venue, which is expected to take place before the end of 2019.”
Information to current shareholders
Please note that shareholders will remain as shareholders in the Company after de-listing of the shares. For further information of what happens to shareholders' shares after de-listing, please contact your depositary bank or trustee.
Shareholders will shortly be convened to an extraordinary general meeting at which further information about the Company’s future strategy will be presented and discussed.
The Company intends to investigate alternate arrangements to accommodate trading in the Company’s shares, for example on an OTC trading platform, until the Company’s shares have been re-listed on a suitable listing venue.
The Company will communicate with its shareholders via its webpage www.ryvl.com after de-listing of the Company’s shares.
Correction: In the press release with the above information, published today on April 1, 2019, at 14.20 CET, the information of the requirement of a new listing process according to the Rulebook did not appear. Please be referred to the amendment in bold text above.
About RYVL
RYVLis the operating name of The Marketing Group Plc. (https://ryvl.com/)
RYVLis a global network of complementary marketing businesses. It is building a lean and technology centricapproach to providing a globalmarketing solution, fit for the needs of modern brands.
The Marketing Group Plc (Ticker: TMG.ST) is listedon Nasdaq First North, Stockholm www.RYVL.com.
Mangold Fondkommission AB, +46 8-5030 15 50, is the Company’s Certified Adviser and liquidity provider.
Investor Relations
Tim Metcalfe
Miles Nolan
Phone: +44 (0) 203 934 6630