Redhall requests suspension of trading on AIM amid 'uncertain' outlook

Engineering business Redhall said on Friday that overall trading remained challenging and warned that its short-term cash flows were under pressure, in particular, with regard to certain tax liabilities.

Redhall revealed it had been in active discussions with certain major shareholders and creditors to provide additional funding capacity to allow it to alleviate short-term cash flow pressures.

However, it said it was clear there was "no reasonable prospect" that a viable solution for additional funding capacity would be found and that it was now investigating "all alternative options" to optimise value.

As a result of the uncertain outlook, Redhall requested that its shares be suspended from trading on AIM pending clarification of its financial position.

As of 0830 BST, Redhall shares had fallen 6.25% to 1.50p.