Temporary Suspension
02 Luglio 2007 - 9:45AM
UK Regulatory
RNS Number:3843Z
Lambert Howarth Group PLC
02 July 2007
Update on Potential Fundraising and Temporary Suspension of Shares
Lambert Howarth Group plc (the "Company")
Update on fundraising
The Company announced on 17 May 2007 that it was in continuing discussions with
various existing shareholders and new investors concerning the terms of a
potential fundraising.
As a result of a series of meetings with existing shareholders and new
investors, the Company is now confident that it will shortly be in a position to
send a Circular to shareholders containing details of a proposed placing of new
ordinary shares to raise a minimum of #7.5 million in cash, before expenses, at
a price at or near the current mid-market price of 18.5p per share.
However, notwithstanding the positive feedback received from prospective equity
investors to date, it should be noted that, as yet, no funding has been
committed to the Company and there can be no guarantee that the proposed placing
will be effected on the above terms.
The Company's lending bank remains supportive of the fundraising process.
Temporary Suspension of Shares
Given the inter-relationship between the fundraising process and the timing of
the publication of the Company's Report and Accounts for the year ended 31
December 2006, the Company has requested that the listing of the shares be
temporarily suspended pending publication of the 2006 Accounts.
The Company believes that a temporary suspension of listing of its shares is
appropriate. The Company expects that listing of its shares will resume once the
Circular to shareholders containing full details of the fundraising has been
issued, and the 2006 Accounts have been filed, both of which are expected to
take place by 20 July 2007.
A further announcement will be made when appropriate.
Enquiries:
Lambert Howarth Group plc
Fred Vinton 020 7258 9917
Pamela Harper 020 7258 9917
Paul Owens 020 7258 9917
This information is provided by RNS
The company news service from the London Stock Exchange
END
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