Peel Hotels PLC Temporary Suspension (9380G)
26 Julho 2019 - 1:43PM
UK Regulatory
TIDMPHO
RNS Number : 9380G
Peel Hotels PLC
26 July 2019
26 July 2019
Peel Hotels Plc (the "Company")
TEMPORARY SUSPENSION OF SHARE TRADING
DELAYED PUBLICATION OF RESULTS FOR FINANCIAL YEAR ENDED 27
JANUARY 2019
PROPOSED DELISTING
Peel Hotels Plc today announces that the Directors have
concluded that the Company will not be able to publish its annual
audited accounts for the year end 27 January 2019 (the "Accounts")
by 27 July 2019 as required by Rule 19 of the AIM Rules for
Companies (the "AIM Rules").
The Company is in the process of finalising the audit and the
results will be announced, and the Accounts published, as soon as
possible - which the Company expects to be by Friday 2 August at
latest. The delay is not related to the Company's trading, cash
flows or other underlying economic position, but instead concerns
the receipt of certain third party Bank confirmations which have
not yet been provided to the auditor.
Dealings in the Company's ordinary shares will therefore be
temporarily suspended under AIM Rule 40 from 7.30 a.m. on Monday 29
July 2019 until such time as the Accounts have been duly published
in compliance with AIM Rule 19.
In conjunction with publication of the Accounts, the Company
will make a proposal to its shareholders for the delisting of the
Company's shares from AIM. As a result of a review of the benefits
and drawbacks of being a listed company, the Board of the Company
has concluded that the cancellation of admission of its Ordinary
Shares to trading on AIM ("Cancellation") is in the best interests
of the Company and its Shareholders as a whole.
The Company therefore announces its intention to seek
Shareholders approval for the Cancellation. An explanatory circular
will be posted to Shareholders (the "Circular") setting out the
background to and reasons for the proposal of Cancellation, the
reasons why the Directors believe that this is in the best
interests of the Company and its Shareholders as a whole, and their
recommendation to Shareholders to vote in favour of a resolution to
approve the Cancellation - which Circular the Company expects to
publish at the same time as publication of its Accounts.
Notwithstanding the temporary suspension of trading in the
Ordinary Shares, the Company will continue to make announcements as
and when there are any developments that require announcement under
the AIM Rules.
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014.
-END-
Peel Hotels plc
Robert Peel, Executive Chairman
020 7266 100
Peel Hunt LLP
Nominated Adviser and Broker
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END
SUSQQLFLKDFZBBL
(END) Dow Jones Newswires
July 26, 2019 12:43 ET (16:43 GMT)
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