Grafico Azioni Stirling Industries (LSE:STRL)
Da Lug 2019 a Lug 2020
RNS Number : 0187X
Stirling Industries PLC
16 December 2019
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF THE MARKET ABUSE REGULATION (EU) NO. 596/2014.
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Stirling Industries plc
("Stirling" or the "Company")
Result of General Meeting and change of registered address
Further to its announcement on 19 November 2019 the Company confirms that following its General Meeting held earlier today, all resolutions were passed by the requisite majorities.
As such, James Money and Steve Butt of Rollings Butt LLP have been appointed liquidators of the Company and the company has formally entered into a members' voluntary liquidation, ("MVL").
In accordance with the resolutions of the General Meeting, the admission of the Company's ordinary shares to trading on AIM will be cancelled on 24 December 2019. The Company's shares remain suspended for trading until that date.
Change of address
The Company's registered office address has been changed to that of Rollings Butt LLP, namely:
Rollings Butt LLP
6 Snow Hill
London, EC1A 2AY
- Ends -
For more information contact:
Stirling Industries plc
Blair Illingworth, Chief Executive
c/o Montfort Communications +44 (0)78 1234 5205
Montfort Communications - Financial Communications
Olly Scott +44 (0)78 1234 5205
Numis Securities - Nominated Adviser and
Ben Stoop +44 (0)20 7260 1000
Rollings Butt LLP
James Money, Joint Liquidator
Steve Butt, Joint Liquidator +44 (0)20 7002 7960
Stirling was established to offer a differentiated management and ownership approach for industrial businesses where the strategic and operational expertise of its team combines with that of the portfolio company's management to drive and enable improvements that create long-term shareholder value.
The Company focused on acquiring businesses with strong fundamentals and enterprise values between GBP100 million and GBP750 million. Transactions would be financed through a combination of new equity and prudent leverage, with the Company's target debt to be no more than 2.5x the Company's EBITDA.
Stirling's approach began with the belief that many companies have the potential to achieve material operational enhancement and margin improvement. Stirling's value add was to ensure operating assets have the right strategy, the right focused leadership, empowered and incentivised management teams and the appropriate capital investment to support growth.
The Company's leadership team has significant experience of identifying the key value drivers of a given business, implementing change strategies across a diverse range of industries and delivering significant operational value creation.
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(END) Dow Jones Newswires
December 16, 2019 08:28 ET (13:28 GMT)