Statement re. Suspension (4708Z)

TIDMAPNO

RNS Number : 4708Z

All Points North Plc

16 March 2012

All Points North plc ("All Points North" or "the Company")

Suspension of Trading on AIM

In the Interim results released on 22 December 2011, the Company stated the following:

"The Board does not see the environment in which the Company operates changing significantly in the medium term and the Company continues to be reliant on the support of the bank. The Directors are considering its strategy going forward and expect to report back to shareholders with an update in early March 2012."

Since 22 December 2011, the Company has continued its discussions with Clydesdale Bank (the "Bank") regarding its facilities and future support. The Company has also been in discussions regarding the sale of several of the Company's properties in order to satisfy the Bank's concerns in relation to the level of gearing and service of interest; however, as of the date of this announcement, no agreement has been entered into to sell any of the Company's properties.

Given the continuing difficult market conditions, the Company has not been able to sufficiently progress the sale of any of its property assets and the Bank has now requested that the Company provides a proposal which would enable the Bank's total facilities of approximately GBP5.1 million to be repaid in full by 30 April 2012. The Company is in ongoing discussions with the Bank on this matter.

The Company continues to look at its options in order to repay this facility, including the disposal of certain properties within its portfolio. The Bank have stated that if an agreement is not reached with the Company as to the way forward it will be their intention to take whatever action is considered necessary to obtain repayment of outstanding sums.

As a result, the Company announces that it has requested a suspension, with immediate effect, of trading of its shares on AIM, pending clarification of its financial position.

A further announcement will be made as soon as possible.

For further information please contact:-

Enquiries:

   Keith Chadwick, All Points North plc                           Tel: [phone] 
   Nick Cowles, Zeus Capital Limited                                           Tel: [phone] 

This information is provided by RNS

The company news service from the London Stock Exchange

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