Statement re. Suspension (4708Z)
March 16 2012 - 3:30AM
UK Regulatory
TIDMAPNO
RNS Number : 4708Z
All Points North Plc
16 March 2012
All Points North plc ("All Points North" or "the Company")
Suspension of Trading on AIM
In the Interim results released on 22 December 2011, the Company
stated the following:
"The Board does not see the environment in which the Company
operates changing significantly in the medium term and the Company
continues to be reliant on the support of the bank. The Directors
are considering its strategy going forward and expect to report
back to shareholders with an update in early March 2012."
Since 22 December 2011, the Company has continued its
discussions with Clydesdale Bank (the "Bank") regarding its
facilities and future support. The Company has also been in
discussions regarding the sale of several of the Company's
properties in order to satisfy the Bank's concerns in relation to
the level of gearing and service of interest; however, as of the
date of this announcement, no agreement has been entered into to
sell any of the Company's properties.
Given the continuing difficult market conditions, the Company
has not been able to sufficiently progress the sale of any of its
property assets and the Bank has now requested that the Company
provides a proposal which would enable the Bank's total facilities
of approximately GBP5.1 million to be repaid in full by 30 April
2012. The Company is in ongoing discussions with the Bank on this
matter.
The Company continues to look at its options in order to repay
this facility, including the disposal of certain properties within
its portfolio. The Bank have stated that if an agreement is not
reached with the Company as to the way forward it will be their
intention to take whatever action is considered necessary to obtain
repayment of outstanding sums.
As a result, the Company announces that it has requested a
suspension, with immediate effect, of trading of its shares on AIM,
pending clarification of its financial position.
A further announcement will be made as soon as possible.
For further information please contact:-
Enquiries:
Keith Chadwick, All Points North plc Tel: 01768 865959
Nick Cowles, Zeus Capital Limited Tel: 0161 831 1512
This information is provided by RNS
The company news service from the London Stock Exchange
END
SRSLFFVLVTIELIF
All Points North (LSE:APNO)
Historical Stock Chart
From Mar 2024 to Apr 2024
All Points North (LSE:APNO)
Historical Stock Chart
From Apr 2023 to Apr 2024