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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| American Leis | LSE:ALGL | London | Ordinary Share | VGG0294N1078 | ORD NPV (DI) |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 29.00 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
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RNS Number : 8278X
American Leisure Group Limited
30 June 2008
American Leisure Group Limited
New credit facility and temporary suspension of trading on AIM
Further to the announcement on 9 June that it was engaged in advanced discussions to secure an additional debt facility, American
Leisure Group Limited ("ALG") today announces that Stanford International Bank Limited ("Stanford") has committed to provide new credit
facilities of $17.5 million to finance working capital and to allow for the completion and closing of ALG's first resort units, subject to
customary general conditions and requirements.
CEO Malcolm Wright stated today, "Against the extraordinarily difficult financial environment that exists in our industry today, we are
gratified Stanford has provided this additional support. This facility will enable construction at ALG's Sonesta Resort Orlando at Tierra
del Sol to continue with a view to opening the resort next Spring. We believe that when open it will soon become one of Orlando's most
popular family destinations."
ALG was scheduled to issue its results for the period ending 31 December 2007 before the end of June. However, the resolution of certain
matters relating to the Company's audit remain outstanding and require additional materials to be provided to the auditors and it has not
proved possible to finalise the audit and hence the results. Consequently, trading in the Company's shares will be suspended with immediate
effect under Rule 19 of the AIM Rules. The Company expects to be able to make a further announcement later this week.
- Ends -
For further information:
American Leisure Group Limited
Malcolm Wright, Chief Executive Officer Tel: +44 (0) 20 7398 7700
Fred Pauzar, Director of Corp. Development www.americanleisuregroupltd.com
Dawnay, Day Investment Banking
Nick Lovering / Gerald Raingold Tel: +44 (0) 20 7630 4140
Abchurch
Henry Harrison-Topham / Gareth Mead Tel: +44 (0) 20 7398 7700
gareth.mead@abchurch-group.com www.abchuch-group.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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