PCF.L

PCF Group Plc
PCF Group PLC - Proposed Cancellation Update
9th December 2022, 16:44
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RNS Number : 2774J
PCF Group PLC
09 December 2022
 

 

 

9 December 2022

 

PCF Group plc

(the "Company")

 

Proposed Cancellation Update

 

As detailed in its Circular of 22 November 2022, the Company has now concluded putting in place arrangements to enable holders of Ordinary Shares in the Company ("Shareholders") to trade their Ordinary Shares if the proposed cancellation of trading on AIM ("Cancellation") is approved by Shareholders in the General Meeting at Noon on the 12 December 2022.

 

Should the Cancellation be approved, the Company will put in place a Matched Bargain Facility and has appointed Asset Match (www.assetmatch.com) to facilitate such trading in the Ordinary Shares.

 

Asset Match, a firm authorised and regulated by the Financial Conduct Authority, will operate an electronic off-market dealing facility for the Ordinary Shares. This facility will allow Shareholders to trade Ordinary Shares by matching buyers and sellers through periodic auctions.

 

The Asset Match trading facility operates under its own code of practice which governs the behaviour of participants and the running of the periodic auctions. Asset Match operates an open auction system where volumes of bids and offers at different prices are displayed on its website together with the closing date of each auction period. At the end of each auction period, Asset Match passes this information through a non-discretionary algorithm that determines a "market-derived" share price based on supply and demand and allocates transactions accordingly. Bids and offers may be made and withdrawn at any time before the closing date of each auction.

 

Shareholders will continue to be able to hold their shares in uncertificated form (i.e. in CREST) and should check with their existing stockbroker whether they are willing or able to trade in unquoted shares.

 

Full details will be made available to Shareholders in due course on the Company's website.

 

For further information, please visit https://pcf.bank/ or contact:

 

PCF Group (via Tavistock Communications)

Garry Stran, Chief Executive Officer

Caroline Richardson, Chief Financial Officer

 

Tel: +44 (0) 20 7920 3150

Tavistock Communications

Simon Hudson / Tim Pearson

Tel: +44 (0) 20 7920 3150

 

Peel Hunt (Nominated Adviser and Joint Broker)

Paul Shackleton / Oliver Jackson

 

Tel: +44 (0) 20 7418 8900

 

Shore Capital (Joint Broker)

Henry Willcocks / Guy Wiehahn

 

Tel: +44 (0) 20 7408 4080

 

 

 

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