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GoTech cash shell pivoting to medical cannabis
Cash shell GoTech announced its intention to seek shareholder approval a number of things on Thursday, the first of which would be the cancellation of its shares to trading on AIM.
The firm also wanted to conduct a placing to raise £0.25m before expenses via the issuance of convertible loan notes, and proposed that its ordinary shares be admitted to trading on the NEX Exchange Growth Market.
It also proposed a change of its name, as well as a repositioning as an investment vehicle seeking to take advantage of the growing market of medicinal cannabis and other related cannabis or hemp products.
The company said it would post a circular to its shareholders on Friday, containing a notice convening a general meeting to be held on 11 June.
"Shareholders should note that trading in the company's ordinary shares on AIM will be suspended with effect from 0730 BST on 21 June pursuant to AIM Rule 15," the board noted.
"Admission of the ordinary shares to trading on NEX cannot occur if the cancellation resolution is not approved and the cancellation does not occur."