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 Rob Neale, Chief Executive Officer Phil Joyner, Chief Financial Officer
| via FTI Consulting |
| Zeus (Nominated Adviser & Joint Broker) Dan Bate / James Edis (Investment Banking) Dominic King (Corporate Broking)
| Tel: 0203 829 5000 |
| Liberum Capital Limited (Joint Broker) Jamie Richards / William King
| Tel: 0203 100 2100 |
| FTI Consulting (Financial PR) Alex Beagley / Sam Macpherson / Amy Goldup
| Tel: 0203 727 1000 |
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