Mar City : Update Re: Suspension

Mar City PLC

('Mar City', the 'Group' or the 'Company')

Update

Mar City (AIM: MAR.L), the London/South East and Midlands focused housebuilder, announced on 20 April 2015 that its shares had been suspended from AIM. This followed the timing of the resignation of its Nominated Adviser. The AIM Rules require that a new Nominated Adviser is appointed within a month and given the short time available this has not been achieved and as a result the shares have been delisted today.

The Company is working with proposed new Board members, including inter alia a new Chairman and a new Nominated Adviser in order to significantly strengthen the Company's corporate governance and to support Tony Ryan with the day-to-day trading operations. The Company continues to operate in a strong housing market and is completing some exciting projects including its modular homes in Colindale, North London.

Notwithstanding that the shares have been delisted from AIM, the Board and the Company's majority shareholders are wholly committed to achieving a relisting of the business as soon as possible. They are working closely with the Company's other material stakeholders to deliver this objective.

It is expected that the new Board appointments will be made at the same time as a relisting which should occur at or shortly after the publication of the Company's audited accounts to 31 December 2014. It is expected that a circular will be posted at the same time in respect of the related party transaction covering the proposed property acquisitions, as set out in the 20 February 2015 announcement.

Ends.

Enquiries:	www.marcityplc.com
Gable Communications Limited John Bick	[e-mail] [phone]