LONDON (Thomson Financial) - London Asia Capital Plc. said it has appointed
Keith Negal as its chief executive with immediate effect.
Negal was the chief operating officer of Fayrewood Plc. where he will remain
as non-executive director, the company said, adding that Negal's immediate aim
will be to restore the company's share trading on AIM.
On June 4, London Asia Capital's shares were suspended at its request,
pending publication of the company's annual audited accounts.
On May 14, the company said it sees a loss for 2007 on significant
provisions, a fall in the value of a number of the company's listed holdings and
a decline in the performance of China Financial Services Inc.
The company also said it would take charge of up to 1.1 million pounds in
2007 on the fall in the value of its investment in UK Plus-listed China
Education Group (CEG) since Dec 31, 2006, following the de-listing of CEG.
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