DGAP-News: Innov8 Social Media PLC: Update on Suspension
(firmenpresse) - DGAP-News: Innov8 Social Media PLC / Key word(s): Miscellaneous
Innov8 Social Media PLC: Update on Suspension
20.02.2012 / 10:00
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London, United Kingdom
Innov8 Social Media plc ('Innov8' or 'the Company') notes that trading in
its shares was suspended at the request of BaFin on Friday, 10th February
2012. This suspension was the result of a criminal act by persons unknown
to the Company or any of its affiliates, and was imposed to prevent any
losses which may have been caused to Shareholders as a result of this
criminal act.
The Board of Directors are aware that a fraudulent fax was distributed
throughout Germany falsely purporting to have been issued by a qualified
investor newsletter, Investor Inside. The falsified newsletter contained a
series of forward looking statements that were both wholly inaccurate and
misleading.
The Company urges anyone that received one of these faxes, or has any
information relating to the origin of these faxes, to contact BaFin in
order to assist in bringing these criminals to justice, and ensuring that
Shareholders are protected against damages.
Innov8 immediately contacted its lawyers on Friday, 10th February 2012, who
have been liaising closely with both the Federal Financial Supervisory
Authority and the German law enforcement agencies in order to find the
people responsible and to take the strongest possible measures against them
so that trading on the Exchange may resume.
Unfortunately, Innov8 has not yet been given any guidance by the
authorities as to the length of the expected suspension. The Company is
working with its lawyers to bring this situation to a satisfactory
conclusion as swiftly as possible in order to protect both its own
interests and those of its Shareholders.
The Board of Directors can assure all Shareholders that these events will
not affect the Company's activities, and are very satisfied with the
Company's performance since its IPO in 2011. Since listing there have been
a number of exciting developments reported to the Directors from core
investment, Xen Inc, and Innov8 is exploring a number of new pre-IPO
opportunities in the social and digital media sectors.
The Board of Directors are hopeful that with the assistance of the German
authorities, trading will resume as soon as possible, and that the Company
will be protected against any further attacks of this nature. Further
announcements will be made as soon as more information becomes available.
** END OF NEWS RELEASE **
About Innov8
Innov8 Social Media Plc ('Innov8') is an active investor in social and
digital media technologies, which was formed in 2011 to capitalise on a
number of opportunities in this rapidly growing and dynamic market segment.
The Company looks to grow its existing portfolio of assets which range
across a number of subsectors including semantic web 3.0 solutions, social
data analytics, e-commerce and social gaming. Innov8's vision is to become
a globally recognised, market leading investment platform for young
companies and emergent technologies in the social and digital media
sectors.
Innov8 Social Media Plc, 1 Kings Avenue, Winchmore Hill, London N21 3NA, UK
www.inov8social.com or www.innov8socialmedia.com
Stock Exchanges: Frankfurt, ISIN: GB00B7619Q46, Ticker: I8SM, WKN: A1JNWE
Disclaimer
This news release may contain certain forward-looking statements,expectations, intentions, strategies and beliefs regarding the future. All
statements contained herein are based upon information available to the
management of Innov8 Social Media Plc as of the date hereof, and actual
results may vary based upon future events, both within and without the
control of the management, including risks and uncertainties that could
cause actual results to differ materially.
Management does not take any responsibility to update the contents of this
News Release in case new aspects arise or new conditions change the facts
available.
End of Corporate News
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20.02.2012 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
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Media archive at www.dgap-medientreff.de and www.dgap.de
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157238 20.02.2012
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Datum: 20.02.2012 - 10:00 Uhr
Sprache: Deutsch
News-ID 116283
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Kategorie:
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