Singularity International (01280) announced that on September 1, 2023, the parties to the acquisition agreement had entered into an agreement to terminate the acquisition agreement, so the acquisition would not take place.
Under the termination Agreement, all previous obligations and liabilities of the parties (including the Company) under the acquisition Agreement will be completely waived and discharged immediately and in all respects. No shares have been issued or will be issued under the acquisition.
As a result of the termination of the acquisition Agreement, the Vendor is no longer obliged under Rule 26.1 of the Takeovers Code to make an unconditional mandatory comprehensive offer for all issued shares not yet owned by the concerted Action Group and which ╱ may agree to acquire. Therefore, for the purposes of the Takeovers and mergers Code, the contract period ends on the date of this announcement.