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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Shaw(A) | LSE:SAW | London | Ordinary Share | GB0008005125 | ORD 0.1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.00 | - |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:4510J Shaw (Arthur) & Co PLC 01 April 2003 Arthur Shaw & Company PLC (the "Company") Suspension of trading of shares pending publication of report & accounts Due to a delay in filing of the report and accounts for the year ended 30 September 2002, trading in the Company's shares on AIM will be suspended with effect from today. The Company has delayed publication of its report and accounts for the reasons described below. The Company is undergoing a restructuring following the divestiture of the engineering subsidiaries in August 2002 and is pursuing its declared strategic objective of becoming a media business of which the Executive Chairman / CEO has significant experience, along with other executives. As a key component of this objective, the Board is pleased to announce that it has entered into heads of terms for the proposed acquisition of a record company, subject to a number of matters including due diligence, contract and the approval of shareholders. The proposed acquisition is of sufficient size, under the AIM Rules, to be considered a reverse takeover that would require the trading in the Company's shares to be suspended, pending publication of a circular containing full details of the acquisition. The Board believes that any publication of the Company's accounts without full reference to the acquisition would be less than meaningful to the Company's shareholders following this significant change in strategic direction. The Directors have secured short term finance to ensure sufficiency of working capital whilst this acquisition is completed. Given the change in the strategic direction of the business, it is imperative that the Company completes this, or a similar, acquisition in the near future in order to have viable long term trading prospects. Once ongoing negotiations and due diligence are successfully completed, a circular relating to the acquisition will be sent to shareholders as soon as practicable. It is expected that the Company will announce its results, and will post its report and accounts to shareholders at the same time. 1 April 2003 Enquiries Arthur Shaw & Company PLC 020 7706 7304 This information is provided by RNS The company news service from the London Stock Exchange END SRSNKDKKOBKDANN
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