4th Mar 2015 16:08
LONDON (Alliance News) - Rangers International Football Club PLC Wednesday said its shares have been suspended from trading on AIM after its nominated adviser, WH Ireland, resigned.
"The company has been informed that its nominated adviser does not believe that it can satisfy the London Stock Exchange in relation to its NOMAD obligations in respect of the appropriateness of the company's securities to be admitted to AIM, and therefore the NOMAD has resigned as nominated adviser to Rangers with immediate effect," said the company in a statement.
As per AIM rules, Rangers will have to appoint a new nominated adviser within one month to avoid the company's shares being cancelled from trading on AIM.
"The directors are disappointed that this event has had to take place despite the considerable efforts they have made over the last few weeks and months," said Rangers.
By Joshua Warner; [email protected]; @JoshAlliance
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