Totally announces potential acquisition and suspension of trading

Totally, the provider of a range of services to the healthcare sector in the UK, announced a potential reverse takeover acquisition and the resulting suspension of trading on AIM.

The AIM listed company signed heads of terms on a potential acquisition which could constitute a reverse takeover, as the acquired company will be larger than Totally.

Totally said it had entered an exclusivity agreement until 30 September 2017 regarding the potential acquisition, and that any transactions remained subject to completing due diligence and negotiations to the company's satisfaction.

If the proposed acquisition were to proceed it would need the approval of shareholders in a general meeting.

The company's share would be suspended from trading on AIM on Friday afternoon, in accordance with rule 14 of the AIM rules of the company, until either an admission of document was published or that an announcement were to be released confirming the halting of transaction.

The companies shares were flat at 48.00 by 15:14 BST