Real Good Food PLC (LON:RGD)

Real Good Food PLC (LON:RGD)


Share Price
7.25 p
Change
0 (0.00 %)
Market Cap
£7.22 m
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Real Good Food PLC RNS Release

Response to Stock Exchange AIM Disciplinary Notice


RNS Number : 5319A
Real Good Food PLC
30 May 2019
 

30 May 2019

Real Good Food plc

("RGF" or "the Company")

Response to Stock Exchange AIM Disciplinary Notice

 

Real Good Food plc announces that the London Stock Exchange has determined a public censure of the Company and a fine of £450,000, discounted to £300,000 for early settlement.  The public censure relates to breaches of the AIM Rules for Companies ("AIM Rules") 10, 13, 17, 19, 21 and 31 which occurred in the period to July 2017.  The Company will pay the fine on 5 June 2019 from its existing financial resources.

 

The Company regrets these breaches and fully understands and accepts the importance of sound corporate governance and complying with the AIM Rules.  It has cooperated fully with the London Stock Exchange's enquiry and, since the relevant events that led to the censure, the former Chairman and two other directors have left the Company. 

 

Announcing its intention in September 2017, the Board has since undertaken significant remedial action, including enhancing the Company's procedures, resources and controls, adopting new corporate governance and implementing new financial processes and procedures. This has included the appointment of a number of new board members.

 

The Exchange Notice is available at:

 

https://www.londonstockexchange.com/companies-and-advisers/aim-notices/aim-notices.htm

 

Hugh Cawley, Chief Executive said:

"We are pleased to draw a line under these unfortunate incidents in the Company's history, for which we have accepted responsibility. We now have in place fit-for-purpose corporate governance and are committed to complying with our obligations under the AIM Rules."

 

-ENDS- 

Enquiries:

Real Good Food plc

Hugh Cawley, Chief Executive

Tel: 0151 541 3790

 

 

 

 

 

finnCap Limited (Nomad and Broker)

Matt Goode / Carl Holmes / James Thompson (Corporate Finance)

Tel: 020 7220 0500

 

 

 

 

MHP Communications (Financial PR) 

Reg Hoare / Katie Hunt

Tel: 020 3128 8193

[email protected]

 

 

About Real Good Food

Real Good Food plc is a diversified food business serving a number of market sectors including retail, manufacturing, wholesale and export.  The Company now focuses on two markets: Cake Decoration (Renshaw and Rainbow Dust Colours) and Food Ingredients (Brighter Foods).

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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