Business
Trading Statement
Trading Statement.
About this update from Shuka Minerals Plc
[{"type":"text","content":"\n TV Commerce Holdings PLC\n28 February 2007\n\n\n\n\n\n\n\n TV Commerce Holdings PLC\n\n ('TV Commerce' or the 'Company')\n\n\n\n Closure of TV Commerce Ltd\n\n\n\nFurther to the announcement on 24 November 2006, the Board has concluded that\nchanges in the regulatory regime in which the Company's trading subsidiary, TV\nCommerce Ltd, operates are unlikely to ease in the foreseeable future.\n\n\n\nIn view of this, the Board has decided that it is in Shareholders' best\ninterests to close the operation of TV Commerce Ltd with effect from today and\nto repay any surplus cash to the Company. Accordingly, an initial repayment of\nan amount of £350,000 was completed on 14th February 2007 and any further cash,\nafter allowance for the cost of closure, will be similarly repaid by the end of\nApril 2007.\n\n\n\nFollowing the closure of the business of TV Commerce Ltd, both Chelsey Baker and\nDean Wright will resign from the board and the Board would like to thank them\nfor their contribution to the company since its flotation in February 2005.\n\n\n\nAndrew Mintern and Vince Stanzione will remain as directors of the Company to\nfinalise and oversee plans to return any cash retained by the Company to\nshareholders as soon as practicable.\n\n\n\nThe Board anticipates that it will be in a position to update Shareholders on\nprogress in this regard by the time of the publication of the Group's annual\nreport and financial statement for the year ended 31 December 2006, in April\n2007.\n\n\n\nFor further enquiries\n\n\n\nVince Stanzione 019 0833 0747\nTV Commerce Holdings Plc\n\n\n\nJohn De Pasquale 020 7107 8000\nSeymour Pierce\n\n\n\nAlan Piper 020 7436 7486\nFirst City Financial Ltd\n\n\n\n This information is provided by RNS\n The company news service from the London Stock Exchange \n ","length":2058,"tagName":"div"}]