Suspension Of Shares
June 24 2009 - 2:56AM
UK Regulatory
TIDMATCG
RNS Number : 4055U
AT Communications Group Plc
24 June 2009
Suspension of Shares
On 24 March 2009, the Company announced the disposal (the "Disposal") of its
wholly owned subsidiary, Rocom Limited ("Rocom") to Nimans Holdings Limited
("Nimans"). The Company announces that it has received notice of a possible
claim from Nimans under the warranties in the sale and purchase agreement
relating to the Disposal, together with a notice of a proposed purchase price
adjustment under the completion accounts mechanism in the sale and purchase
agreement. The Board is seeking advice as to the merits of the warranty claim
and the proposed completion accounts adjustment, which in aggregate amount to
GBP3.62 million.
As announced on 1 June, the Company will not receive cash from a major customer
on the time schedule originally expected. Taking these developments together,
and following discussions with its Bank, ATC announces that it has requested a
suspension, with immediate effect, of trading of its shares on AIM, pending
clarification of the Company's financial position.
A further announcement will be made as soon as possible.
Enquiries
+------------------------------------+-----------------------------------------------------------------------------------------+
| AT Communications Group plc | 08700 |
| | 558 |
| | 080 |
+------------------------------------+-----------------------------------------------------------------------------------------+
| Scott Kean, Chief Executive | |
+------------------------------------+-----------------------------------------------------------------------------------------+
| www.atcommunications.co.uk | |
+------------------------------------+-----------------------------------------------------------------------------------------+
| Cenkos Securities plc | 020 |
| | 7397 |
| | 8924 |
+------------------------------------+-----------------------------------------------------------------------------------------+
| Stephen Keys | |
+------------------------------------+-----------------------------------------------------------------------------------------+
| www.cenkos.com | |
+------------------------------------+-----------------------------------------------------------------------------------------+
| Biddicks | 020 |
| | 7448 |
| | 1000 |
+------------------------------------+-----------------------------------------------------------------------------------------+
| Shane Dolan | |
+------------------------------------+-----------------------------------------------------------------------------------------+
This information is provided by RNS
The company news service from the London Stock Exchange
END
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