PTD Pittards Plc

TIDMPTD

RNS Number : 3239L

Pittards PLC

04 September 2023

THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER ARTICLE 7 OF THE EU REGULATION 596/2014 AS IT FORMS PART OF THE UK LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("MAR"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.

4 September 2023

Pittards plc

("Pittards", the " Group " or the "Company" )

Appointment of Administrators and

Resignation of Nominated Adviser

Further to the announcement on 8 August 2023, which noted the intention to appoint administrators from Ernst & Young LLP as Joint Administrators to the Company ('the Joint Administrators'), the Board confirms that these appointments were made today and that Lucy Winterborne and Daniel Hurd of Ernst & Young LLP will act as Joint Administrators

The Joint Administrators are at an advanced stage of negotiations to sell the Company's business and assets (including its Ethiopian subsidiaries). The transaction is expected to formally close no later than 6 September 2023. If the transaction cannot be concluded the Joint Administrators will assess available options to realise value for the company's creditors

The Joint Administrators will be contacting shareholders in due course with further information on the Administration of the Company and the sale of its business and assets.

Resignation of Nominated Adviser

WH Ireland has informed the Company of its intention to resign as Nominated Adviser and Broker to Pittards with immediate effect of release of this announcement. Pursuant to AIM Rule 1, if a replacement Nominated Adviser is not appointed within one month of today's date, the admission of the Company's shares to trading on AIM will be cancelled. The Company has no current intention of appointing a replacement Nominated Adviser. Trading in the Company's ordinary shares on AIM remains suspended.

For further information please contact:

 
 Pittards plc              www.pittards.com 
 Stephen Yapp, Chairman 
  Reg Hankey, CEO 
  Alan Burgess, CFO        +44 (0) 1935 474 321 
 WH Ireland Limited        www.whirelandcm.com 
 Mike Coe                  +44 (0)20 7 220 1666 
 
 
 

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.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

MSCLIMATMTTMBFJ

(END) Dow Jones Newswires

September 04, 2023 11:27 ET (15:27 GMT)

Pittards (LSE:PTD)
Historical Stock Chart
Von Okt 2024 bis Nov 2024

Pittards (LSE:PTD)
Historical Stock Chart
Von Nov 2023 bis Nov 2024