Innov8 Social Media PLC
Innov8 Social Media PLC: FURTHER UPDATE ON SUSPENSION AND CORRECTION
Innov8 Social Media PLC / Key word(s): Miscellaneous 09.03.2012 / 09:00 --------------------------------------------------------------------- Innov8 Social Media plc (or 'the Company') would like to update its Shareholders with regards to the current suspension in the trading of its shares on the FQB of the Frankfurt Stock Exchange ('the Exchange'). The Directors remain in direct communication with BaFin and its representatives to aide in the investigation into criminal activities and attempted market manipulation. The Directors have learnt that BaFin did not instigate the suspension order as detailed in the Company's last press release and at the request of BaFin would like to correct this statement. The Company is now working with its lawyers and the Exchange to have this temporary suspension lifted as soon as possible. The Directors would like to reassure their Shareholders, that despite this frustrating situation, the business continues to grow and is exploring a number of social media technology opportunities to be acquired for its Incubator Fund. The Directors will keep the Company's Shareholders updated as to any further material developments. ** 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 --------------------------------------------------------------------- 09.03.2012 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 --------------------------------------------------------------------- 159924 09.03.2012
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