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Thanks OssieMac,
The format with the quotes included is one of the presets in my list of Custom date formats, and is what all of the other cells in the column are using (not sure why).
Using the double quotes does work. However, I am wondering if you are mistaking a previously inserted custom format which then shows up as one of the available formats in the list. Alternatively, maybe you are in a country where it is necessary to use the quotes.
However. have you entered the actual date again because if you enter an alpha character O instead of the numeral zero then it will show up as text with the PM.