BLAVOD SUSPENDS SHARES, SELLS U.S. BUSINESS

Blavod Extreme Spirits shareholders voted in favor of selling its US business to Black Diamond, a company controlled by Blavod's current ceo Jeff Hopmayer, earlier this week. As a result, the AIM listed company has temporarily suspended its shares as it works to complete the sale and finalize its reports and accounts.

The sell of Blavod’s former US business will be completed no later than today (September 28), the company said. Meanwhile, the company expects to publish its accounts in the week beginning Oct. 1, after which “trading in its shares will recommence.”

Quick Background: Under the AIM Rules, Blavod must suspend trading because it will not have posted its accounts to shareholders by September 30.