Block Commodities Ltd: Possible Acquisition and Suspension of Listing

Dow Jones received a payment from EQS/DGAP to publish this press release.

Block Commodities Ltd (BLCC) 
Block Commodities Ltd: Possible Acquisition and Suspension of Listing 
 
21-Sep-2018 / 17:15 GMT/BST 
Dissemination of a Regulatory Announcement that contains inside information 
according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group. 
The issuer is solely responsible for the content of this announcement. 
 
     The information communicated within this announcement is deemed to 
     constitute inside information as stipulated under the Market Abuse 
 Regulations (EU) No. 596/2014. Upon the publication of this announcement, 
   this inside information is now considered to be in the public domain. 
 
21 September 2018 
 
      BLOCK COMMODITIES LIMITED 
 
      ("Block Commodities" or the "Company") 
 
      Block Commodities Limited / Epic: BLCC / Sector: Mining 
 
Possible Acquisition and Suspension of Listing 
 
Block Commodities Limited, the innovative commodity trader operating in 
Africa, is pleased to inform shareholders that it has signed a non-binding 
letter of intent ("LOI") for the acquisition of the entire issued share 
capital of Block Commodities Limited ("Potential Target") by The Eelleet 
Network Corp. ("TEN" or the "Potential Acquirer") a private limited 
liability company incorporated in Canada. 
 
Subject to negotiation completion of the necessary Transaction Documents, 
TEN intends to make an all-share recommended offer for the fully-diluted 
share capital of the Company with the objective of listing its common shares 
on the Canadian Securities Exchange ("CSE"), in accordance with the 
provisions of the UK Takeover Code and the rules and regulations of the CSE. 
 
 The Acquisition is subject, inter alia, to the completion of due diligence, 
documentation and compliance with all regulatory requirements, including the 
    NEX Exchange Growth Market Rules and, as required, the Takeover Code. In 
        addition, the Acquisition is conditional on the approval of the CSE. 
 
   The Acquisition, if successful, will lead to Block Commodities de-listing 
            from the NEX Exchange. 
 
While at a preliminary stage, the Company is making this announcement due to 
the Potential Acquirer having to announce the existence of the LOI under the 
British Columbia Securities Commission Securities Law. The listing in the 
Company's ordinary shares has been suspended at the Company's request 
pending the publication of an Offer Document and Listing Statement. 
 
            The Company will update shareholders as the matter progresses. 
 
  The Directors of the Company accept responsibility for the content of this 
            announcement. 
 
For further information, please contact: 
 
Block Commodities Limited 
Chris Cleverly                         [e-mail] 
 
    NEX Exchange Corporate Adviser: 
 Alexander David Securities Limited 
    David Scott - Corporate Finance         [phone] 
James Dewhurst - Corporate Broking          [phone] 
 
Public and Investor Relations: 
Cassiopeia Services - Stefania       [e-mail] 
Barbaglio 
 
ISIN:          GG00B4QYTJ50 
Category Code: LOI 
TIDM:          BLCC 
Sequence No.:  6058 
EQS News ID:   726323 
 
End of Announcement EQS News Service 
 
 

(END) Dow Jones Newswires

September 21, 2018 12:16 ET (16:16 GMT)