On 16 March 2023, the boards of directors of Hurricane and Prax announced that they had reached agreement on the terms of a recommended acquisition of the entire issued, and to be issued, share capital of Hurricane by Prax (the "Acquisition"), which was to be effected by means of a Court-sanctioned scheme of arrangement under Part 26 of the Companies Act (the "Scheme").
The scheme document in respect of the Acquisition (the "Scheme Document") was published and made available to Hurricane Shareholders on 6 April 2023.
Further to the announcement made by Hurricane and Prax on 8 June 2023 that the Scheme had become Effective in accordance with its terms, Hurricane confirms that the admission to trading of Hurricane Shares on AIM has been cancelled with effect from 7.00 a.m. today.
Defined terms used but not defined in this announcement have the meaning given to them in the Scheme Document.
