We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Innobox | LSE:INO | London | Ordinary Share | GB0000528181 | ORD 0.05P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.10 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
Innobox Plc ("Innobox" or the "Company") I F Hotels Limited On 16 April 2007 Innobox announced the sale of the freehold property investment known as Fishmore Hall, Ludlow which was owned by the Company's 75.01% subsidiary, I F Hotels Limited ("IFHL"). The net proceeds of the sale are insufficient to cover the unsecured connected and unconnected creditors of IFHL in full. The directors of IFHL have therefore been liasing with a firm of insolvency practitioners with a view to IFHL entering into a Company Voluntary Arrangement ("CVA") with the objective of maximising the distribution of the disposal proceeds between the members and creditors. A CVA document has been produced and will be posted to members and creditors of IFHL later today, with the resultant CVA approval meetings due to be held on 13 July 2007 at the offices of Sanderlings LLP. Ultimately, under the proposed CVA scheme, both the connected and unconnected creditors should receive approximately 36.2p in the pound which is likely to be paid in two distributions, the first distribution being 34.7p. The distribution to the unconnected creditors will be accelerated within the proposed 60 day CVA and the responsibility of collecting the £40,000 deferred loan, which was provided to the purchasers of Fishmore Hall, falls under the responsibility of the connected unsecured creditors. Therefore if it transpires that the deferred loan cannot be collected, the total distribution to the connected unsecured creditors is likely to be approximately 26.0p in the pound. In addition IFHL has a debtor of £7,680 and it is anticipated that this amount will be received shortly. However, in the event that this debtor is not collected it should be noted that the Directors propose to vary the arrangement by not making the proposed second anticipated distribution of 1.5p in the pound to both the unsecured connected and non connected creditors. If this should be the case then the overall distribution to the connected and unconnected creditors will be reduced to 34.7p in the pound. Enquiries: Russell Stevens 07860 562621 Chief Executive Russell@innobox.co.uk Hanson Westhouse Limited 0113 246 2610 Tim Feather / Matthew Johnson tim.feather@hansonwesthouse.com END
1 Year Innobox Chart |
1 Month Innobox Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions