Cancellation of Admission to Trading on AIM

 

TIDMMCOZ 
 
RNS Number : 2502W 
Cosentino Signature Wines plc 
16 November 2010 
 

          Cosentino Signature Wines plc ("Cosentino" or the "Company") 
 
        Operations Update and Cancellation of Admission to Trading on AIM 
 
Further to the announcement on 12 August 2010, the Board of Cosentino regrets to 
announce that after thirty years of world class winemaking, Cosentino Winery has 
had to close its doors and cease operations.  Whilst the Board was seeking to 
refinance the business and had extensive negotiations with potential new 
lenders, it was unable to secure the funds required to refinance existing debt 
obligations and continue the business.  The Board believes that an order for 
relief under Chapter 7 of the United States Bankruptcy Code for the domestic 
subsidiaries has already been entered or will be in the very near future. 
 
The Board would like to thank its many fans, customers and business partners for 
their support and enthusiasm over the years. The Board extends particular thanks 
to the Company's talented and loyal employees and, of course, Mitch Cosentino 
for his leadership, passion and total dedication in the making of the Company's 
fine wines. The Board believes that the wines that remain will be a brilliant 
testimony to the Cosentino legacy of uncompromising quality and excellence for 
many years to come. 
 
Whilst the Company currently remains admitted to the AIM market, in accordance 
with the AIM Rules, after close of business on 30 December 2010, it is expected 
that the Company and its shares will cease to be admitted to AIM, six months 
having passed since suspension of share trading on 30 June 2010.  The Board 
currently has no intention for the Company to re-commence any business 
operations and therefore it is likely that the suspension of share trading will 
remain in effect until that time. 
 
 
Cosentino Signature Wines plc 
Larry Soldinger, Chairman                       020 7107 8000 
 
Seymour Pierce 
Jonathan Wright/Jeremy Porter               020 7107 8000 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
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