(Alliance News) - Real Good Food PLC on Friday announced the cancellation of its shares following the appointment of administrators to oversee a sale of the company.
Shares in Liverpool, England-based food manufacturer were temporarily suspended on November 29, after the group said it intended to appoint administrators in light of its uncertain financial situation.
This came after the group sold the Rainbow Dust Colours, its edible paint business, to European Fermentation Products Ltd for cash consideration of GBP800,000. The group said this would help fund the operations of its remaining business, JF Renshaw.
On Thursday, however, the directors of Real Good Food and Renshaw appointed administrators from Interpath Ltd to oversee the sale of the two companies' businesses and assets to British Bakels Ltd.
Real Good Food's shares were cancelled from trading on the AIM market of the London Stock Exchange on Friday morning.
Prior to the suspension, shares in Real Good Food were at 1.45 pence each in London.
By Hugh Cameron, Alliance News reporter
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