23 May 2014 07:00
23 May 2014
Pentagon Protection plc ('Pentagon' or 'the Company')
Update and Resignation of Nominated Adviser and Broker
Pentagon Protection plc (AIM:PPR), announces that following the disposal of SDS Group Limited (see RNS announcement 'Disposal of SDS Group Ltd' released on 22 May 2014), the Board continues to seek additional short term financing whilst also considering potential offers for certain assets or operations of the resultant Group.
Without sufficient additional short-term financing being obtained, or an acceptable offer being received, the Board will likely seek to issue a proposal for a Company Voluntary Arrangement within the next 6 business days.
Cantor Fitzgerald Europe has resigned with immediate effect as the Company's Nominated Adviser and further, Allenby Capital, has resigned with immediate effect as the Company's broker. Shares in the Company will continue to be suspended from trading on AIM until further notice. Pursuant to AIM Rule 1, if a replacement Nominated Adviser is not appointed within one month, the Exchange will cancel the admission of the Company's securities.
The Company will make further announcements as soon as practicable.
** ENDS **
Enquiries:
Pentagon Protection Plc Steve Chambers, Managing Director | Tel: 01923 221 910 |