Microsaic Systems Provides Update on Delisting and Acquisition Plans

Microsaic Systems has announced that the delisting of its shares, which was scheduled for Thursday, will be postponed. This delay is due to the company's ongoing efforts to finalize an acquisition, as well as the completion of a share consolidation and sub-division earlier this week.

The decision to delist and lay off all staff, effective from December 3rd, was initially made by Microsaic Systems in early November as part of a comprehensive cost-reduction strategy. After exploring various options to strengthen its financial position, including a fundraise, the company concluded that delisting and staff reductions were necessary.

Microsaic Systems recently revealed its interest in acquiring DeepVerge's Modern Water business for £100,000 ($126,660). This potential acquisition is being carefully considered as the company secures binding conditional commitments for a fundraising initiative through Turner Pope Investments. Furthermore, Microsaic Systems is actively engaged in due diligence efforts and finalizing the terms of the Modern Water purchase, both of which are progressing positively.

In the days ahead, Microsaic Systems plans to provide further updates on the anticipated timeline for the fundraising campaign and acquisition, as well as its financial results and plans for stock trading restoration.

Stay tuned for more information on Microsaic Systems' future developments.

Contact Writer: Joe Hoppe