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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Bollore SE | EU:BOL | Euronext | Ordinary Share |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.05 | -0.88% | 5.63 | 5.62 | 5.70 | 5.705 | 5.595 | 5.70 | 623,657 | 16:40:00 |
RNS Number:6961U Bolton Group (International) Ld 27 January 2004 The Directors of the Company consider it appropriate to update shareholders on the current position relating to the affairs of the Company having regard to recent announcements. On the 8th day of October 2003, the Chancery Division of the High Court of Justice, upon the application of the Company, issued a Freezing Injunction against (1) Peter Derby, (2) Michael Holt and (3) Mileplace Limited. This Injunction was sought by the Company following a sale of the share capitals of Bolton Group Plc and Urania Securities Limited to a private company in circumstances which the Board were advised were improper. Litigation is continuing in this connection and shareholders will be informed of the result in due course. As a consequence of this litigation and because of conflicts of interest, there has been a number of changes in the Directors of the Company and the present Directors are as notified to shareholders on the 22nd January 2004 and consist of Messrs Joseph Vure and Israel Librowski. The Company is investigating financial proposals to strengthen its capital base and a further Announcement will be made in this connection when appropriate. In relation to the announcement of 30th July 2003, Bolton Group (International) Limited (BGI) had exchanged contracts to acquire 8.3% interest in Megacom Holdings Limited, (Megacom) for #300,000. The whole of the consideration was left outstanding on completion and following the failure by BGI to repay the loan within 6 months, the interest in Megacom has reverted back to the vendor and is no longer owned by Bolton. On 13th August 2003, Bolton Group (International) Limited (BGI) announced that Maberley International Limited completed the purchase of three properties in China for an aggregate consideration of #140,000. Of that, #78,647.00 was left outstanding by way of a loan repayable on or prior to 9th August 2004. Completion of the other four properties referred to in the announcement of 13th August 2003 has not taken place, nor has the agreement to acquire the investment property situated in Beijing, China for a total consideration of #152,381. The Company has a marginal negative working capital position at present pending the sale of a #140,000 asset. Prior to this sale the Company continues to enjoy financial support vis a vis any working capital requirements from shareholders, as it has received when called upon historically for a number of years and continues to do so. Ongoing working capital requirements for a minimum of 12 months can/will continue to be provided in this way as and when needed. Notwithstanding this, the Company is contemplating a substantive brokered funding in the near future and has ongoing dialogue with accredited parties on this basis. Further financial information will be published shortly in the Company's Interim Results for the period ending 31st October 2003. This information is provided by RNS The company news service from the London Stock Exchange END MSCEDLFLZFBZBBQ
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