Business
Suspension of Shares
Suspension of Shares.
About this update from Andrada Mining Limited
[{"type":"text","content":"\n \n APPLIED TECHNOLOGY MONITORING PLC \n\nSUSPENSION OF ORDINARY SHARES OF 1 PENCE EACH; CESSATION OF TRADING\n\nApplied Technology Monitoring Plc (the \"Company\") yesterday morning (28 October\n2008) requested trade in its shares on PLUSMarkets to be suspended and the\nshares were suspended at 11.51 a. m.\n\nThe Company announces with regret that, following its Open Offer dated 30\nSeptember 2008, which attracted insufficient demand from shareholders to\njustify the Company allotting shares to those shareholders who subscribed, the\nDirectors took professional advice and have concluded that the Company has\ninsufficient financial resources to continue trading. In order not to risk the\nCompany's trading wrongfully contrary to the provisions of S214 of the\nInsolvency Act 1986, the Directors resolved to cause the Company to cease\ntrading forthwith and to apply to the High Court for permission to appoint a\nreceiver.\n\nAccordingly, today (29 October 2008), a hearing will occur before the High\nCourt in Birmingham and, following the period required by law to allow for\nobjections from certain classes of creditor, a receiver will be appointed to\nrealise the Company's assets or to seek to dispose of the Company's business\nand to pay creditors to the extent available from the sale of assets or from\nthe disposal of its business.\n\nNo shares have been allotted pursuant to the Open Offer dated 30 September 2008\nand all funds subscribed by shareholders will accordingly be returned in full\nto the remitters by the receiving agent.\n\nA further announcement will be made in due course.\n\nBy order of the Board,\n\nPeter Phillips, Company Secretary\n\n29 October 2008\n\nEnquiries: Applied Technology Monitoring Plc; +44 (0) 191 229 5720\n\nENDS.\n\n\n ND\n\n\n \n ","length":2048,"tagName":"div"}]