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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Litcomp | LSE:LIN | London | Ordinary Share | GB00B0ZQ8D12 |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 35.00 | 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 : 7325B
LitComp Plc
02 November 2009
LitComp plc ('LitComp' or 'the Company')
Loan Stock Redemption
The Board of LitComp (AIM: LIN), a provider of After the Event Insurance and a
national supplier of medico-legal reports, notes that it's GBP3,605,000 10%
convertible secured loan stock 2008 ("Loan Stock") was due for redemption on 31
October 2009. GBP2,501,200 of the Loan Stock is currently in issue and the
Company is now in technical default, albeit that it is still in advanced
discussions regarding a potential offer. In the event that the offer and/or a
further extension of the repayment deadline is not forthcoming, the Company will
need to consider alternative funding options.
As announced on 24 September 2009, the Company is in advanced discussions with a
potential offeror regarding a possible offer for the Company. No final agreement
has been reached and so there can be no certainty as to whether an offer for the
Company will or will not be made. As announced on 30 September 2009 and as
disclosed in the Company's Annual Report and Accounts, for the year ended 31
March 2009 the potential offer includes arrangements for the potential funding
of the redemption of the Loan Stock and a further announcement is expected to be
made shortly.
Enquiries:
Litcomp Plc
Tel: +44 (0) 147 656 0113
Jason Smart, Chief Executive Officer
Paul Lavender, Finance Director
Seymour Pierce Limited
Tel: +44 (0) 207 107 8000
Richard Feigen / Chris Howard / Christopher Wren
This information is provided by RNS
The company news service from the London Stock Exchange
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