Regulatory Story
Go to market news section View chart   Print
Redhall Group PLC  -  RHL   

Trading Update and Directorate Change

Released 07:00 06-Jun-2014

RNS Number : 9943I
Redhall Group PLC
06 June 2014

For immediate release

     6 June  2014


Redhall Group plc

("Redhall" or the "Group")


Trading Update and Directorate Change


Redhall Group plc (AIM: RHL), the specialist engineering support services group, reports that, following further delays in the timing of major contracts and a more cautious assessment of the timing and impact of new business prospects, the Board has reviewed its forecasts and moderated its expectations for the year ending 30 September 2014 and now expects to produce a result comparable to that of the prior financial year ended 30 September 2013.  Our bankers HSBC Bank plc remain fully supportive of the Group. As previously announced, the Company will issue its results for the six months to 31 March 2014 on 12 June 2014.


The Board announces that Richard Shuttleworth has resigned as Group Chief Executive and will be leaving with immediate effect. Phil Brierley, Group Commercial Director, has been appointed as Group Chief Executive and Chris Kelly (who has been acting on an interim basis) has been appointed as Group Finance Director and Company Secretary with immediate effect.  Further information in relation to Chris Kelly's appointment as required under the AIM Rules will follow in a separate announcement.


Redhall's Chairman, David Jackson, commented: "The Group continues to have a strong relationship with its key customers. Although the programmes of work from our major clients are suffering substantial delays we are confident we will deliver our recovery plan albeit over an extended timeframe. The Group is seeking to further broaden its customer base to reduce the reliance on existing major customers."


Contact details:


Redhall Group plc

Tel: +44 (0) 1924 385 386

David Jackson, Chairman

Phil Brierley, Chief Executive

Chris Kelly, Finance Director


Tel: +44 (0) 20 7466 5000

Mark Court, Fiona Henson, Sophie Cowles

Arden Partners (Joint Broker)

Chris Hardie, Director Corporate Finance

Tel: +44 (0) 20 7614 5929

Ed Walsh, Head of Sales

Tel: +44 (0) 20 7614 5964

Charles Stanley Securities (Joint Broker)

Tel: +44 (0) 20 7149 6000

Russell Cook, Director Corporate Finance

Paul Brotherhood,  Sales Trading

Altium (NOMAD and Financial Advisors)

Tel: +44 (0) 845 505 4343

Phil Adams, Simon Lord, Paul Lines


This information is provided by RNS
The company news service from the London Stock Exchange

London Stock Exchange plc is not responsible for and does not check content on this Website. Website users are responsible for checking content. Any news item (including any prospectus) which is addressed solely to the persons and countries specified therein should not be relied upon other than by such persons and/or outside the specified countries. Terms and conditions, including restrictions on use and distribution apply.


Trading Update and Directorate Change - RNS