News blog
cScape Group
- BY: Andrew Hore |
- POSTED: 19/12/2011 |
Internet services and hosting provider CScape Group has cancelled its quotation.
This will save £75,000 a year. Liquidity is limited and management believes that it will be difficult to use the quotation to raise additional cash for the business.
Trading has been tough for the internet services business but the hosting operations continue to perform in line with expectations. Revenues fell 15% in the year to June 2011 and the loss from continuing operations increased from £166,000 to £500,000.
The cScape share price had slumped to 7.5p by the time of the cancellation. That is barely greater than 10% of the share price prior to the announcement of the intention to cancel the quotation. At the end of 2010, cScape raised £235,000 at 70p a share.
cScape will be re-registered as a private limited company.
A matched bargain facility will be set up.
Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFDecember2011_27.pdf
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