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Silverdell PLC (SID)

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Tuesday 31 December, 2013

Silverdell PLC

Update re Cancellation

RNS Number : 6346W
Silverdell PLC
31 December 2013
 



Silverdell plc

 

("Silverdell" or the "Group")

 

Update

 

 

Since July 2013 trading conditions in each of the Group's subsidiaries (the "Subsidiaries") have been extremely challenging, having been impacted by the administration of Kitsons, a member of the Group, and the subsequent suspension of the shares of Silverdell plc from trading on AIM.  As a result of the challenging trading conditions, the working capital position of the Subsidiaries has deteriorated.

The Group continues to work with Rcapital Partners LLP to investigate a solution for the Group.  This may include the sale of certain parts of the Group or a breakup of the Group.  It is not anticipated that shareholders will receive any return for the shares they hold.

In accordance with AIM Rule 41, admission of the Group's shares to AIM will be cancelled on 2 January 2014 at which point the Group's shares will have been suspended from trading for 6 months.

 

ENQUIRIES:

Silverdell Plc

Tel: + 44 20 7389 6827

Sean Nutley, Chief Executive Officer

 


 


This information is provided by RNS
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