Ridgecrest PLC Statement re. Suspension (2568N)
January 28 2021 - 8:19AM
UK Regulatory
TIDMRDGC
RNS Number : 2568N
Ridgecrest PLC
28 January 2021
28 January 2021
Ridgecrest plc
("Ridgecrest" or the "Company")
Suspension of trading
Ridgecrest, an AIM Rule 15 cash shell, notes the London Stock
Exchange's (the "Exchange") Market Notice N04/21 released following
the suspension in trading of the Company's Ordinary Shares at 10.30
a.m. this morning.
The Notice makes the following statements:
1. London Stock Exchange ("the Exchange") has been monitoring
the settlement situation in Ridgecrest PLC (ISIN: GB0004251970)
following the Company's recent notifications in relation to the
issue of new shares which are conditional on shareholder consent.
As a result of the deterioration in settlement performance, the
trading of Ridgecrest PLC shares has been temporarily suspended
under Rule 1510 of the Rules of the London Stock Exchange.
Settlement of outstanding transactions can continue whilst the
security is suspended. The Exchange will continue to monitor the
settlement situation and when trading is to be restored, the market
will be notified by Stock Exchange Notice.
2. Rule 5000 (Obligation to settle) and its associated guidance
places an obligation on member firms to ensure that every on
Exchange trade is duly settled on the agreed settlement date. This
obligation remains even if the reason for non-settlement is a
customer or counterparty having failed to settle other transactions
in the same security.
The Notice can be viewed at:
https://docs.londonstockexchange.com/sites/default/files/documents/n0421.pdf
The timing of restoration of trading in the Company's shares
will be determined by the Exchange.
Enquiries:
Ridgecrest plc www.ridgecrestplc.com
Robert Thesiger, Chairman 07714 502807
Allenby Capital Limited (Nominated Adviser
and Joint Broker) 020 3328 5656
Nick Naylor / Liz Kirchner (Corporate
Finance)
Guy McDougal (Sales and Corporate Broking)
Peterhouse Capital Limited (Joint Broker) 020 7469 0930
Lucy Williams / Duncan Vasey
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END
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