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28 Jan 2021 14:19
28 January 2021
Ridgecrest plc
("Ridgecrest" or the "Company")
Suspension of trading
Ridgecrest, an AIM Rule 15 cash shell, notes the London Stock Exchange's (the "Exchange") Market Notice N04/21 released following the suspension in trading of the Company's Ordinary Shares at 10.30 a.m. this morning.
The Notice makes the following statements:
1. London Stock Exchange ("the Exchange") has been monitoring the settlement situation in Ridgecrest PLC (ISIN: GB0004251970) following the Company's recent notifications in relation to the issue of new shares which are conditional on shareholder consent. As a result of the deterioration in settlement performance, the trading of Ridgecrest PLC shares has been temporarily suspended under Rule 1510 of the Rules of the London Stock Exchange. Settlement of outstanding transactions can continue whilst the security is suspended. The Exchange will continue to monitor the settlement situation and when trading is to be restored, the market will be notified by Stock Exchange Notice.
2. Rule 5000 (Obligation to settle) and its associated guidance places an obligation on member firms to ensure that every on Exchange trade is duly settled on the agreed settlement date. This obligation remains even if the reason for non-settlement is a customer or counterparty having failed to settle other transactions in the same security.
The Notice can be viewed at: https://docs.londonstockexchange.com/sites/default/files/documents/n0421.pdf
The timing of restoration of trading in the Company's shares will be determined by the Exchange.
Enquiries:
Ridgecrest plc | www.ridgecrestplc.com |
Robert Thesiger, Chairman | 07714 502807 |
Allenby Capital Limited (Nominated Adviser and Joint Broker) | 020 3328 5656 |
Nick Naylor / Liz Kirchner (Corporate Finance) Guy McDougal (Sales and Corporate Broking) |
|
Peterhouse Capital Limited (Joint Broker) | 020 7469 0930 |
Lucy Williams / Duncan Vasey |
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