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31 Aug 2011 12:28
Pinewood Shepperton plc
31 August 2011
Pinewood Shepperton plc (the "Company")
Listing Status
Following the recommended cash offer by Peel Acquisitions (Pegasus) Limited ("Peel") which closed on 8 July 2011, the shareholder base of the Company has consolidated. Over 98% of the share capital is now held between Peel and Warren James Holdings Limited ("Warren James"). As a result, on 15 July 2011 the Company notified the Financial Services Authority ("FSA") that it no longer satisfied the free float requirement for listing set out under Listing Rule 6.1.19.
The Company has been advised that the FSA is contemplating whether actions are warranted in connection with the future status of the Company's listing on the London Stock Exchange.
The Company has further been advised that one option would be for the FSA to undertake a unilateral listing cancellation procedure in recognition of the fact that the Company no longer meets the eligibility requirements for listing.
The Board is of the view that there is no realistic prospect of the free float requirement being restored. As a consequence the Board intends to notify the FSA of its support for the proposal to undertake the unilateral listing cancellation procedure.
A further announcement will be made in due course.
Enquiries:
Pinewood Shepperton plc
Andrew M. Smith Tel: +44 (0) 1753 656732
Brunswick Group LLP
James Olley Tel: +44 (0) 20 7404 5959
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