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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Regenesis | LSE:RGN | London | Ordinary Share | GB00B1T8X133 | ORD 0.025P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.15 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
Embargoed for release at 7.00 a.m. 16 October 2007 Regenesis plc ("Regenesis" or the"Company") Statement re suspension In the Chairman's statement accompanying the interim results for the six month period ended 30 June 2007, issued on 29 September 2007, reference was made to the requirement for the Company to comply, by the close of business on Friday 15 October 2007, with AIM Rule 15. AIM Rule 15 requires that the Company has to implement the investing strategy approved by shareholders to the satisfaction of the London Stock Exchange. The new strategy, which is the provision of short term asset finance, was approved by shareholders in April 2007. Since that time, the Company has not been idle. Over the last six months, loan applications totalling £19.1 million have been reviewed by the board and considered carefully, particularly in the current financial environment. A loan of £774,500 was committed and drawn down in May this year and a further loan of £135,000 has been drawn recently; four further loans have been agreed and committed, but have not yet been drawn down by the borrowers. When drawn down, these additional loans will utilise most of the Company's lending capacity, taking into account its current equity capital base. In spite of these commitments, an insufficient proportion of the committed loans was drawn down by close of business on 15 October 2007 to fulfil the requirements of AIM Rule 15 and, accordingly, trading in Regenesis' shares on AIM was suspended from the start of business today. The suspension will continue until the Company can demonstrate that it has complied with AIM Rule 15, at which time, trading will be restored. If this cannot be achieved by 15 April 2008, admission of the Company's shares to AIM will be cancelled. The directors wish to emphasise that these London Stock Exchange regulatory matters do not relate to, or have any impact on, the financial position of the Company. Further enquiries: Regenesis Group plc Tel: 0161 929 5088 John Barnacle John East & Partners Limited Tel: 020 7628 2200 John East/David Worlidge END
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