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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Ram Active | LSE:RAM | London | Ordinary Share | GB00B92FC877 | ORD 0.01P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 2.50 | 0.00 | 00:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From Nov 2019 to Nov 2024
TIDMRAM
RNS Number : 3776V
RAM Active Media PLC
12 December 2013
RAM ACTIVE MEDIA PLC ("RAM" or the "Company")
Notice of intention to appoint administrator
Following the announcements made on 5 September, 21 October, 20 November and 21 November 2013 and the suspension of the Company's shares from trading on AIM and the subsequent divestment of its trading subsidiary RAM Vision, the board of RAM announces that it yesterday filed at court an intention to appoint an administrator (the "Filing").
The intention of the board is to use the protection provided by the Filing to negotiate a creditors voluntary agreement ("CVA"). The objective of a CVA would be to enable Creditors and Shareholders to recover some value by holding shares in an AIM quoted company. The Directors have requested Trevor Binyon of Opus Restructuring LLP to advise the board in this process. Mr. Binyon has received several expressions of interest in financing the Company, subject to agreeing a CVA with its creditors. A CVA would eliminate the Company's indebtedness and liabilities and would be subject to approval by the creditors at a creditors meeting.
If a CVA is not agreed and approved, the Directors believe that the Company will face an uncertain future as there are currently insufficient assets to repay the creditors. In this situation it is likely that ahead of a cancellation of listing on AIM, the outcome will be for the Company to be placed into liquidation and in such circumstances there are unlikely to be any returns to Shareholders.
For the avoidance of any doubt, a CVA would not result in any distribution being made to Shareholders.
Shares in the Company will continue to be suspended from trading on AIM until further notice.
RAM Active Media plc
David Binding (Chairman) 07866 809 109
Libertas Capital Corporate Finance Limited
Sandy Jamieson, Thilo Hoffmann 0207 569 9650
This information is provided by RNS
The company news service from the London Stock Exchange
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