RNS Number:4481B
Loftus Road PLC
2 April 2001
This announcement is a duplicate of RNS No 4273B which was released on Friday 30
March 2001 at 18:41.
The announcement has been reissued for the purpose of market clarity. For Immediate Release 30 March 2001 Loftus Road plc (the "Company")
Under the AIM Rules, the Company's interim results for the six months ended 30
November 2000 are due to be released to the Stock Exchange by 31 March 2001. The directors of the Company (the "Directors") confirm that, although they are
actively seeking potential providers of long-term finance to meet the
Company's future funding requirements, there is currently no prospect of such
finance being made available in the immediate future. In addition, the
Directors are seeking alternative ways of refinancing or restructuring the
Company for the benefit of shareholders and creditors of the Company. Having
taken advice, the Directors have concluded that, in the current absence of
further long-term funding, it is unable to produce its results on a going
concern basis. For this reason, the Company is unable to comply with its
obligation to announce these interim results. In addition, the Directors have decided that it is in the best interests of
the Company to cancel the trading of its ordinary shares on AIM with effect
from 7.00 a.m. on Monday 2 April 2001. This decision has not been taken
lightly but has come about as a direct result of the current financial state
of the Company and the problems and costs inherent in refinancing it whilst
remaining an AIM quoted company.
30 March 2001 |