Further to the Company’s announcements of 27 September 2018, 22 October 2018, and 15 November and suspension of trading of the Company’s shares on AIM on 3 December 2018, the Company announces that its discussions to source further funds through monetising its Konta Port asset have not been successful and therefore the Company has been left with no alternative but to cease trading immediately and be placed into the appropriate insolvency process.
As such the Board late yesterday filed a representation with the Royal Court of Jersey requesting the Court to Order a winding up under article 155 of the Companies (Jersey) Law 1991 and appointing as liquidators Alan Roberts and Ben Rhodes, both of Grant Thornton Jersey. The Representation is due to be heard by the Court this afternoon.
Formal notices will be issued by Grant Thornton in due course.
Resignation of Nomad and Broker
With mutual agreement of the Board, WH Ireland Limited has resigned as Nominated Adviser and Broker to the Company with immediate effect. Pursuant to AIM Rule 1, if a replacement Nominated Adviser is not appointed within one month, the admission of the Company’s securities will be cancelled on AIM. The Company has no current intention of appointing a replacement Nominated Adviser.
The Company’s ordinary shares remain suspended from trading on AIM.
Enquiries:
Any enquiries regarding the Company should be directed to Grant Thornton Jersey on +44 1534 885885.
