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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Advance Visual | LSE:ACV | London | Ordinary Share | GB0002565355 | ORD 0.1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.16 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:2356Y Advance Visual Communications PLC 5 July 2002 Advance Visual Communications plc ('AVC' or 'the Company') Trading statement The Chairman noted in the interim results statement, announced on 13 March 2002, that trading for the first half of the financial year to 31 December 2001 had proved to be a very difficult period for the Group and it was stated that contract wins were essential to reach break-even and reduce cash burn. Since this time, the marketplace for the Group has deteriorated significantly and the Directors have experienced particularly disappointing levels of sales enquiries for its products which they believe now render trading to be unsustainable on projected revenue streams. In view of this, the Company has withdrawn support to its two remaining UK trading subsidiaries, Advance Digital Productions Ltd and Advance London Ltd. The directors of these subsidiaries have consequently appointed a liquidator. Ali Amiri has resigned from the Company with immediate effect to help reduce operating costs to a minimum at the plc level, but he has agreed to advise the Company as and when required. The Board now comprises Barclay Douglas, Graham Leask, Andrew Cooke and Massoud Amiri (who has waived all future fees). The Company will now consider appropriate opportunities going forward having regard to its current cash balance of around £350,000. 5 July 2002 Press enquiries: Barclay Douglas, Chairman Advance Visual Communications plc 07771 824 440 This information is provided by RNS The company news service from the London Stock Exchange
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