Safestyle UK PLC Further Update on Process & Suspension of Trading (4757R)

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RNS Number : 4757R

Safestyle UK PLC

27 October 2023

27 October 2023

The information contained within this announcement is deemed by the Company to constitute inside information stipulated under the Market Abuse Regulation (EU) No. 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018. Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain.

Safestyle UK plc

("Safestyle" or the "Company" and together with its subsidiaries, the "Group")

Further Update on Process

and

Suspension of Trading on AIM

Safestyle UK plc (AIM: SFE.) provides the following update to its announcement of 26 October 2023 in relation to the process it has been undertaking to try and secure a Proposed Sale, as that term is defined in that announcement.

As negotiations progress with interested parties, it has become increasingly unlikely, in the reasonable belief of the Directors of Safestyle, that any Proposed Sale, even if it was completed, will result in any return to shareholders.

Due to the ongoing financial uncertainty regarding the Group, its limited working capital and the circumstances noted above, the Company has requested that its shares are suspended from trading on AIM with effect from 7.30am on 27 October 2023.

Further announcements will be made as and when appropriate.

For further information:

 
 Safestyle UK plc                              via FTI Consulting 
  Rob Neale, Chief Executive Officer 
  Phil Joyner, Chief Financial Officer 
 Zeus (Nominated Adviser & Joint Broker)       Tel: [phone] 
  Dan Bate / James Edis (Investment Banking) 
  Dominic King (Corporate Broking) 
 Liberum Capital Limited (Joint Broker)        Tel: [phone] 
  Jamie Richards / William King 
 FTI Consulting (Financial PR)                 Tel: [phone] 
  Alex Beagley / Sam Macpherson / Amy Goldup 
 

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October 27, 2023 02:00 ET (06:00 GMT)