RHL Redhall Group Plc

TIDMRHL

RNS Number : 0621A

Redhall Group PLC

24 May 2019

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.

Embargoed until 0730 on 24 May 2019

Redhall Group plc

("Redhall" or the "Company")

Trading update

Suspension of trading on AIM

Further to the trading update released on 1 May 2019, Redhall announces that overall trading remains challenging and that the Company's short-term cash flows are under pressure, in particular, with regard to certain tax liabilities.

The board of Redhall (the "Board") has been in active discussions with certain of the Company's major shareholders and creditors to provide additional funding capacity to allow the Company to alleviate the short-term cash flow pressure. However, it is now clear that there is no reasonable prospect that a viable solution for additional funding capacity can be found and the Board is now investigating all alternative options to optimise value for the Company's stakeholders. The Board notes that the outcome of this process and its impact on the Company's stakeholders remains uncertain.

The Board has requested that the Company's ordinary shares be suspended from trading on AIM pending clarification of the Company's financial position.

A further update will be made as and when appropriate.

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 
 
 GCA Altium, Nominated Adviser               Tel: +44 (0) 20 7484 4040 
 Tim Richardson 
 
 WH Ireland, Broker                          Tel: +44 (0) 20 7220 1666 
 Adrian Hadden, Jessica Cave 
 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

FURLFFVLEVIVFIA

(END) Dow Jones Newswires

May 24, 2019 02:30 ET (06:30 GMT)

Redhall (LSE:RHL)
Graphique Historique de l'Action
De Oct 2024 à Nov 2024

Redhall (LSE:RHL)
Graphique Historique de l'Action
De Nov 2023 à Nov 2024