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Withdrawal from trading on PLUS

^{Published on 2011-02-18 09:01:12 - Market Wire}
 

 18 February 2011 ST HELEN'S FINANCE PLC ("St Helen's Finance", "SHF" or "the Company") Withdrawal from trading on PLUS The Board of SHF announces the Company's intention to withdraw its securities from the PLUS Market ("PLUS") in accordance with Rule 81 of the PLUS Rules for Issuers ("Rules"). Reasons for the withdrawal SHF has undertaken a strategic review of its business and wishes to reduce costs where possible. The Board are of the view that the level of liquidity and trading in its shares is so sporadic that the costs of being listed out way any perceived benefit to shareholders. Also SHF's activities currently are focussed on the runoff of the existing book with no further business prospect currently existing. As a result, the Company does not wish to attract new investors for the time being. The Directors strongly believe that for the reasons referred to above, withdrawing from trading on PLUS is in the best interests of the Company and its shareholders. Alternative arrangements for dealing in SHF's securities The Company will use its best endeavours to match any buyers and sellers of shares post delisting. Under the PLUS Rules, St Helen's Finance is required to give shareholders a period of 10 business days to object to the intended withdrawal of its securities from the PLUS Stock Exchange. Any shareholder wishing to raise an objection should contact PLUS in confidence by 7 March 2011. Accordingly, the Company's securities will be withdrawn from PLUS with effect from 16:30 on 7 March. The Directors of the Issuer accept responsibility for this announcement --ENDS-- Enquiries St. Helen's Finance Plc Tel: 020 7628 4004 Norman Kenvyn, Managing Director nk@shfplc.com Rick Abbott, Chairman ra@shfplc.com Rivington Street Corporate Finance Tel: 020 7562 3393 Heena Karani heena.karani@rs-cf.com