REG - Aukett Swanke Group - Appointment of Nominated Adviser

Aukett SwankeAnnouncement

28/04/2022 07:15

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RNS Number : 5833J  Aukett Swanke Group PLC  28 April 2022

28 April 2022

Aukett Swanke Group Plc

("Aukett Swanke", the "Company" or the "Group")

Appointment of Nominated Adviser

 

Aukett Swanke, a company that principally provides architectural and interior
design services, is pleased to announce the appointment of Strand Hanson
Limited ("Strand Hanson") as its Nominated and Financial Adviser with
immediate effect. Arden Partners plc will continue to act as Broker to the
Company.

Further to the announcements by Arden Partners plc on 11 and 14 April 2022
regarding the loss of its nominated adviser status upon the completion of its
recommended takeover, the Company has appointed Strand Hanson as its nominated
adviser. Given the timing of the completion of the recommended takeover of
Arden Partners plc, the London Stock Exchange plc has agreed that subject to
initial due diligence being undertaken, Strand Hanson has until 5pm on 27
July 2022 to complete its full due diligence.

There can be no guarantee on the outcome of the full due diligence and its
impact on Strand Hanson's decision to continue to act as nominated adviser.
Accordingly, in such circumstances there is a risk that if Strand Hanson does
not continue to act as nominated adviser following completion of its full due
diligence and the Company has not found an alternative nominated adviser, the
Company's AIM securities may be suspended pursuant to AIM Rule 1. If within
one month of that suspension, the Company has failed to appoint a replacement
nominated adviser, the admission of its AIM securities will be cancelled.

Notwithstanding the extension of time provided in respect of completing full
due diligence obligations at engagement, Strand Hanson will continue to be
subject to all the ongoing nominated adviser responsibilities under the AIM
Rules for Nominated Advisers.

 

For further information please contact:

 Aukett Swanke Group Plc
 Nicholas Thompson, Antony Barkwith                               +44 (0) 20 7843 3000

 Strand Hanson Limited (Financial and Nominated Adviser)
 James Spinney, James Bellman                                     +44 (0) 20 7409 3494

 Arden Partners plc (Broker)
 John Llewellyn-Lloyd, Louisa Waddell, Benjamin Onyeama-Christie   +44 (0) 20 7614 5900

 

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