Last checked at 1 Jun 2018 16:00
1 June 2018
The information contained within this announcement is deemed by the Company to constitute inside information stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain.
Weatherly International plc (AIM:WTI)
("Weatherly" or the "Company")
Appointment of Administrators
As announced by the Company at 7.00 a.m. and by AIM at 7.30 a.m. today, the Company's ordinary shares have been suspended from trading on AIM, pending clarification of its financial and operational position.
As a result of the material uncertainty regarding the Company's operational and financial position, the Directors have now appointed Simon Kirkhope and Andrew Johnson of FTI Consulting LLP ("FTI") as administrators to the Company. Any enquiries regarding the Company or its administration should be directed to William Marsden on +44 (0)20 3727 1342.
It has also been agreed with the Panel on Takeovers and Mergers that the formal sales process, announced on 26 April 2018, is terminated, and the Company is no longer considered to be in an "offer period", as defined in the City Code on Takeovers and Mergers. Parties with a continuing interest in making a proposal should contact FTI as administrators to the Company.
Further announcements will be made as required.
For further information please contact:
FTI Consulting LLP +44 (0) 20 3727 1342
(Administrators)
Simon Kirkhope / Andrew Johnson
Strand Hanson Limited +44 (0) 20 7409 3494
(Nominated Adviser & Broker)
Rory Murphy / James Dance / Jack Botros