REG - Sutton Harbour Grp - Appointment of Nominated Adviser

Sutton HarbourAnnouncement

27/04/2022 16:45

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RNS Number : 5819J  Sutton Harbour Group PLC  27 April 2022

27 April 2022

Sutton Harbour Group plc

("Sutton Harbour" or the "Company")

Appointment of Nominated Adviser

 

Sutton Harbour Group plc (AIM: SUH), the AIM-quoted marine and waterfront
regeneration specialist, 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.

The Company is resolved to ensuring that Strand Hanson's due diligence process
is completed in full within the aforementioned timeframe.

 

Enquiries

 Sutton Harbour Group plc                                 +44 (0) 1752 204186   Philip Beinhaker, Executive Chairman

                                                                                Corey Beinhaker, Chief Operating Officer

                                                                                Natasha Gadsdon, Finance Director
 Strand Hanson Limited (Nominated and Financial Adviser)  +44 (0) 20 7409 3494  James Spinney

                                                                                James Dance
 Arden Partners plc (Broker)                              +44 (0) 20 7614 5900  Paul Shackleton

                                                                                Elliot Mustoe

 

Notes to Editors

Sutton Harbour Group plc (AIM: SUH) is an AIM quoted company specialising in
marine operations, waterfront regeneration and destination creation in
Plymouth and South West England.

The Company operates Sutton Harbour Marina, King Point Marina and Plymouth
Fisheries. Operational activities include mixed-use lettings, car parking and
support services to harbour users, property management and regeneration and
asset enhancement.

Sutton Harbour is committed to being the leading marine and waterfront
regeneration specialist in Southern England, and to positioning Sutton Harbour
in Plymouth as a destination of national interest.

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