New World Resources Plc shares suspended on London Stock Exchange
New World Resources Plc (“NWR Plc”) announces that its shares have been suspended with immediate effect on London Stock Exchange.
Further to the announcement on 3 May 2016 regarding the filing of an insolvency petition on behalf of OKD, a.s. (“OKD”) with the Czech court, the shares in NWR Plc have been suspended from the London Stock Exchange with immediate effect. Prague Stock Exchange and Warsaw Stock Exchange are currently processing a request from NWR Plc to suspend the shares.
As OKD is the only trading subsidiary of the NWR Group, the likely impact of the insolvency of OKD is that the remainder of the NWR Group will be wound up or broken up in an orderly manner. If this occurs, it is expected that there will be very minimal or no returns to the shareholders of NWR Plc, apart from the potential distribution of any cash balances of NWR Plc that may remain after the orderly wind up or break up of the NWR Group.