10 Jun 2019 15:39
The information communicated in this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
For immediate release 10 June 2019
Redhall Group plc
("Redhall" or the "Company" or the "Group")
Appointment of Administrators
Resignation of Nominated Adviser
Appointment of Administrators
The Company announces that the Board, under the provisions of the Insolvency Act 1986, has resolved to appoint on 10 June 2019 Christopher Petts and Sarah O'Toole, both of Grant Thornton, as joint administrators to the following companies within the Group:
· Redhall Group plc
· Booth Industries Limited
· Redhall Jex Limited
These appointments follow the previous announcement made by the Company on 28 May 2019, when it advised that the Board intended to appoint Administrators within 10 business days.
Redhall Networks Limited and Jordan Manufacturing Limited have not yet gone into administration, though it is expected that they will do so shortly.
Resignation of Nominated Adviser (NOMAD)
In light of the Company's decision to appoint administrators and with the mutual agreement of the Board, GCA Altium Limited has resigned as NOMAD to the Company with immediate effect.
Pursuant to AIM Rule 1, if a replacement NOMAD is not appointed within one month, the admission of the Company's ordinary shares to trading on AIM will be cancelled. The Company has not appointed a replacement NOMAD and has no current intention of so doing.
Trading in the Company's ordinary shares on AIM remains suspended pursuant to the notice of 24 May 2019.
Contact details:
Redhall Group plc | Tel: +44 (0) 1924 385 386 |
Joe Oatley, Chairman |
|
Buchanan, PR Adviser | Tel: +44 (0) 20 7466 5000 |
Mark Court, Sophie Wills, Hannah Ratcliff |
|