Chamberlin PLC Suspension of Trading

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 Kevin Price, Chief Executive Alan Tomlinson, Finance Director		T: 01922 707100
Cavendish Capital Markets Limited (Nominated Adviser and Joint Broker) Katy Birkin Stephen Keys George Lawson		T: 020 7220 5500
Peterhouse Capital Limited (Joint Broker) Lucy Williams Duncan Vasey		T: 020 7469 0930

 

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 [e-mail] 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

 

 

SRSFDLFBZELXBBZ