30 December 2008 - Pursuant to Rule 15 of the AIM Rules for Companies the Company's shares have been suspended from trading on AIM with immediate effect, as the Company was unable to implement its investing strategy by 28 December 2008, being the anniversary of the Extraordinary General Meeting at which shareholders gave their consent to the disposal of the Company's operating subsidiaries.
The directors continue to pursue acquisition opportunities for the Company and will make further announcements when appropriate.
In particular preliminary discussions are ongoing with one party and the directors are actively considering seeking an admission of the Company's ordinary shares to PLUS, an alternative market to AIM which can provide a suitable trading facility for shareholders and lower listing costs for the Company.
In the event that the Company does not undertake an acquisition that constitutes a reverse takeover pursuant to Rule 14 of the AIM Rules for Companies the admission of the Company's ordinary shares to AIM will be cancelled on 29 June 2009.