Innov8 Social Media PLC
Innov8 Social Media PLC: Update on Suspension
Innov8 Social Media PLC / Key word(s): Miscellaneous 20.02.2012 / 10:00 --------------------------------------------------------------------- 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 --------------------------------------------------------------------- 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, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- 157238 20.02.2012
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