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Media Corporation

  • BY: Andrew Hore |
  • POSTED: 12/09/2013 |

Media Corporation proposes the adjournment of its general meeting on 16 September and it intends to revise its investing strategy.

The company says that an error was discovered in some of the resolutions. The current online gaming business is being closed and the plan was to agree a new investing policy focused on oil and gas and to change the company’s name to Leopard Oil. 

The proposed investing strategy will be widened. The figures for the year to September 2012 and the six months to March 2013 still have not been published. The shares were suspended at 0.1p each on 30 April, valuing Media Corp at £1.31m.

Dan Maling and Jeremy Taylor-Firth will not join the company as originally planned. Reconvening the general meeting may have to wait until a new management team is identified. Additional cash will also be required.

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFAugust2013_47.pdf

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