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Avid Holdings
- BY: Andrew Hore |
- POSTED: 13/03/2009 |
- COMMENTS: Add yours
Avid Holdings has sold its operations but there will be no cash for shareholders.
Nominated adviser Zeus Capital has resigned with effect from 14 April 2009 and the company is being wound up.
Shares in Avid were suspended at 0.95p a share on 14 November 2008, which values the company at 400,000. Avid was seeking additional cash but was unsuccessful.
The problem was the delayed completion by precision engineer Electro-mec of an important order. This business was placed in administration in December 2008.
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