SAFC plc withdraws its stock market listing, plc resignations announced

Sunderland PLC has this morning issued the following stock exchange notice to announce the Company's intention to delist from the London Stock Exchange.
Further details of the announcement are contained in a circular, which will be sent to all shareholders today and can be reviewed online here (you will need Adobe Acrobat).

SUNDERLAND PLC RIS NOTICE
CANCELLATION OF LISTING
Sunderland PLC (the "Company")
Cancellation of Listing

The directors of the Company believe that the Company has become too susceptible to the adverse market sentiment to companies within the football sector with the consequence that there is now little potential in the foreseeable future for the Company to raise further capital on the London Stock Exchange.

The directors also recognise the need for the Company to operate in the most efficient and cost effective manner for the benefit of all shareholders and a cancellation of its listing on the London Stock Exchange would enable the directors to devote more management time to running the business and costs associated with being listed would be significantly reduced.

In light of this, the directors consider that a cancellation of the Company's listing on the London Stock Exchange is in the best interests of both the Company and its shareholders, and accordingly notice is hereby served that the Company's listing on the official list of the UK Listing Authority be cancelled with effect from 5 August 2004.

Further details are contained in a circular to all shareholders of the Company of today's date including details of a matched market facility, which is being provided to shareholders by Brewin Dolphin Securities Limited following the cancellation of the listing.

The Company also announces that from 5 August 2004 Bryan Sanderson will resign as Chairman of the Company, but will continue as a non executive director; Sir Richard Storey will resign as a non executive director of the Company; David Chance will continue as a non executive director of the Company; Robert Murray will continue as a director and will be appointed as Chairman of the Company; John Fickling will continue as a director and will be appointed Vice Chairman of the Company; Peter Walker will resign as Company Secretary and be appointed as Chief Executive of the Company; Lesley Callaghan will be appointed as a director of the Company; Jim Slater will be appointed as a director of the Company; and Jane Purdon will be appointed as Company Secretary.