REG - Chamberlin PLC - Suspension of Trading

ChamberlinAnnouncement

07/05/2024 12:45

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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                           T: 01922 707100

 Kevin Price, Chief Executive

 Alan Tomlinson, Finance Director

 Cavendish Capital Markets Limited        T: 020 7220 5500

 (Nominated Adviser and Joint Broker)

 Katy Birkin

 Stephen Keys

 George Lawson

 Peterhouse Capital Limited               T: 020 7469 0930

 (Joint Broker)

 Lucy Williams

 Duncan Vasey

 

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