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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Panceltica | LSE:PANC | London | Ordinary Share | JE00B2Q7JM31 | ORD NPV |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 2.25 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMPANC RNS Number : 5516U Panceltica Holdings Limited 26 June 2009 +--------------------------------------+--------------------------------------+ | For immediate release | 26 June 2009 | +--------------------------------------+--------------------------------------+ Panceltica Holdings Limited (the "Company") Circular to Shareholders - Trading Update The Company is today posting a letter to its shareholders (the "Circular") in advance of its AGM, which has been convened for Thursday 9 July. In the Circular the Company notes that due to the unsatisfactory situation regarding the completion of its major construction project in Qatar, the lack of anticipated future revenue for the Company and consequent financial uncertainty, the Board is considering the sale of Scottsdale Holdings Limited ("the Scottsdale Group") (the New Zealand based manufacturer of steel roll forming machines purchased in 2008). This is in addition to and separate from the potential sale or closure of the Company's Qatar trading subsidiary, with regards to which it is in discussions with Barwa Real Estate Investment Company ("Barwa"). The Board does not believe that there will be sufficient cash for a distribution to be made to its shareholders following any sale of the Scottsdale Group, the sale or disposal of the Company's Qatar trading subsidiary and the payment of creditors. Furthermore the Board notes that following such disposals (which will be subject to the provisions of AIM rule 15 and require shareholder approval) the Company would not be in a position to continue as an independent business and the Board would seek to arrange a sale of the Company and in the absence of which would proceed with winding up the Company. Copies of the Circular are available from the Company's registrars and will shortly be available from the Company's website (www.panceltica.com). David Ball, CEO Tel: +974 431 1751 Patrick Mitchell, Company Secretary Blomfield Corporate Finance Limited, Nominated Adviser Tel: +44 (0)207 489 4500 Toby Howell / Peter Trevelyan-Clark Religare Hichens, Harrison & Co. plc, Broker Tel: +44 (0)20 7382 4450 Daniel Briggs / Nicholas Malins-Smith Buchanan Communications Tel: +44 (0) 20 7466 5000 Mark Edwards / Jeremy Garcia Computershare, Registrars Tel: +44 1534 825230 This information is provided by RNS The company news service from the London Stock Exchange END TSTSEAFAISUSEIM
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