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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Fishing Rep. | LSE:FISH | London | Ordinary Share | GB00BY7RY763 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 5.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMFISH
RNS Number : 7407J
Fishing Republic PLC
06 December 2018
Fishing Republic plc
("Fishing Republic" or "the Company" or "the Group")
Company Update
Fishing Republic announces that, further to the recent updates on its financial position, it has not been possible to raise sufficient equity or other funding for its immediate and future working capital requirements.
As a consequence, the directors of Fishing Republic Trading Limited, the Company's 100% owned subsidiary, having taken advice from Leonard Curtis Recovery Limited ("Leonard Curtis"), have today filed an application to appoint administrators to this company. The filing of the administration application triggers a moratorium preventing most creditor or other third-party action against this company or its assets. The application is likely to be heard in Court next week at which point it is expected that Leonard Curtis will be appointed as administrators. Steps to appoint administrators to the Company's other 100% owned subsidiary, Fishing Republic Retail Limited, are likely to occur in due course. The directors and Leonard Curtis continue to explore options for Fishing Republic plc and no decision has yet been reached on whether it will be placed into administration.
Leonard Curtis has received indicative offers from parties interested in acquiring some or all of the Group's assets.
A further announcement will be made as soon as is practicable.
The Company's shares remain suspended from trading on AIM.
Status of Nominated Adviser
As stated above, the Company has not been successful in its fundraising activity. Further to the announcement on 30 November 2018, if the Company has failed to appoint a replacement Nominated Adviser by 4 March 2019 the admission of its AIM Securities will be cancelled.
Enquiries:
Fishing Republic plc T: 020 3178 6378 (today) James Newman, Executive Chairman KTZ Communications Limited T: 020 3178 6378 Katie Tzouliadis, Emma Pearson Northland Capital Partners Limited T: 020 3861 6625 Nominated Adviser and Broker Matthew Johnson, Jamie Spotswood, David Hignell (Corporate Finance) Abigail Wayne, Rob Rees (Corporate Broking)
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.
END
STRLLFFDFDLRIIT
(END) Dow Jones Newswires
December 06, 2018 12:30 ET (17:30 GMT)
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