Chamberlin PLC Suspension of Trading
May 07 2024 - 7:36AM
RNS Regulatory News
RNS Number : 4571N
Chamberlin PLC
07 May 2024
7 May 2024
Chamberlin
plc
("Chamberlin", the "Company" or the "Group")
Suspension of Trading
On 10 April 2024, Chamberlin plc (AIM: CMH.L), the
specialist castings and machining group, announced, inter alia,
that it had implemented a cost reduction program but that working
capital levels would continue to be monitored. Whilst the working
capital position of the Company was being managed, this required
the continued co-operation of creditors. The Company announces that
it has been issued with a winding up petition by the Company's main
power supplier and a court hearing was held this morning, where it
was determined that the hearing would be adjourned until 2 July
2024.
The Company will discuss the current position with
its creditors and major shareholders but, pending conclusion of
those discussions and clarification of the Company's financial
position, Chamberlin requested that trading in the Company's
ordinary shares on AIM be suspended with immediate effect.
Notwithstanding the suspension of trading in the Company's ordinary
shares, the Company will continue to make notifications as and when
there are matters requiring disclosure in accordance with the
Company's obligations under the AIM Rules for Companies and/or the
UK Market Abuse Regulation.
Further announcements will be made, as appropriate,
in due course.
The information
contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse
Regulation (EU) No. 596/2014 as it forms part of United Kingdom
domestic law by virtue of the European Union (Withdrawal) Act
2018.
Enquiries:
|
Chamberlin plc
Kevin Price, Chief
Executive
Alan Tomlinson, Finance
Director
|
|
T: 01922 707100
|
|
Cavendish Capital Markets Limited
(Nominated Adviser and Joint Broker)
Katy Birkin
Stephen Keys
George Lawson
|
|
T: 020 7220 5500
|
|
Peterhouse Capital Limited
(Joint Broker)
Lucy Williams
Duncan Vasey
|
|
T: 020 7469 0930
|
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END
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