PANC Panceltica

 

TIDMPANC 
 
RNS Number : 9308W 
Panceltica Holdings Limited 
05 August 2009 
 

For immediate release 
                                         05 July 2009 
 
 
Panceltica Holdings Limited (the "Company") 
 
 
Liquidation of subsidiary and resignation of Nomad and Broker 
 
 
Panceltica Holdings Limited announces that on 06 August 2009 its Qatar trading 
subsidiary Panceltica Qatar WLL will file for liquidation.  Furthermore the 
Board of Panceltica Holdings Limited announces that it has today been notified 
by Blomfield Corporate Finance Limited of its resignation as nominated adviser 
to the Company, with immediate effect.   In the event that a replacement 
nominated adviser is not appointed by the Company within one month, the listing 
of the Company's shares on AIM will be cancelled with effect from 07 September 
2009.  Additionally Religare Hichens Harrison has resigned as Broker to the 
Company with immediate effect.  Both Blomfield Corporate Finance Limited and 
Religare Hichens Harrison will continue to provide advice to the Company as 
required. 
 
 
As announced on 26 June 2009 the Company is considering the sale of Scottsdale 
Holdings Limited ("the Scottsdale Group") (the New Zealand based manufacturer of 
steel roll forming machines purchased in 2008). The Board does not believe that 
there will be sufficient cash for a distribution to be made to its shareholders 
following any sale of the Scottsdale Group, the liquidation of Panceltica Qatar 
WLL and the payment of creditors. Furthermore the Board notes that following 
such disposal the Company would not be in a position to continue as an 
independent business. 
 
 
 
 
David Ball, CEO                                           Tel: +974 431 1751 
Patrick Mitchell, Company Secretary 
 
Blomfield Corporate Finance Limited, Nominated Adviser    Tel: +44 (0)207 489 
4500 
Toby Howell / Peter Trevelyan-Clark 
 
Religare Hichens, Harrison & Co. plc, Broker                        Tel: +44 
(0)20 7382 4450 
Daniel Briggs / Nicholas Malins-Smith 
 
Buchanan Communications                                                  Tel: 
+44 (0) 20 7466 5000 
Mark Edwards / Jeremy Garcia 
 
 
 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 MSCSSWFFISUSEIA 
 

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