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31 Aug 2011 12:28
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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.
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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.
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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.
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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.
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A further announcement will be made in due course.
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Enquiries:
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Pinewood Shepperton plc
Andrew M. Smith Tel: +44 (0) 1753 656732
Brunswick Group LLPΒ
James Olley Tel: +44 (0) 20 7404 5959
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