News blog
London Asia Capital
- BY: Andrew Hore |
- POSTED: 14/05/2008 |
London Asia Capital is taking a £1.1m write-down on its investment in China Education Group.
China Education lost its quote on Plus-quoted because it hadn’t paid its listing fee to Plus Markets Group.
That won’t be the only write-down in the 2007 figures. Other investments have lost value over the past year. This will mean that London Asia will report a loss in 2007.
London Asia has decided not to go ahead with the London Asia Clean Technology Fund because of the weak markets. The clean technology division is being closed and other operations wound down.
The shares dived 1.375p to 2.875p, valuing the company at £9.36m. The tangible net asset value was £44m at the end of June 2007 but this will be much lower by the end of the year.
The results are due to be published in the second half of June.
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