Shield Service Group Plc
LSE : SSGP

April 20, 2011 02:00 ET

Withdrawal from PLUS

SHIELD SERVICE GROUP PLC

The  Board  of  Shield 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:-

Shield  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 weigh any perceived benefit to shareholders. We have been unable to  raise  further
funds as a result of our PLUS listing and therefore cannot justify the costs of remaining listed.

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 Shield's securities:-

The Company will use its best endeavours to match any buyers and sellers of shares post delisting.

The  Company has received irrevocable undertakings from shareholders holding over 75% of the voting  rights
to approve a resolution proposing the withdrawal.

Accordingly,  the Company's securities will be withdrawn from PLUS with effect from 16:30 on  Wednesday  11
May 2011.

The Directors accept responsibility for this announcement.

20 April 2011

Enquiries:

Shield Service Group Plc                                      
Kenneth Macpherson, Non-Executive Director                    07513 296747
                                                              
PLUS Advisor:                                                 
Alfred Henry Corporate Finance Ltd                            
Jon Isaacs/Nick Michaels                                      020 7251 3762


Contact Information

  • Shield Service Group Plc