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Medsea Estates
- BY: Andrew Hore |
- POSTED: 10/11/2008 |
Medsea Estates may change its mind about cancelling its quotation.
This helped to perk up the shares. They rose 0.45p to 0.6p each, which values Medsea at £470,000. Medsea joined Aim on 4 August 2004 at a share price of 85p.
The Spain-based estate agency says that it has received a number of approaches that propose alternatives to cancellation. Medsea is assessing whether the alternatives offer greater value to shareholders. The circular for the meeting needed to approve the cancellation still has not been sent to shareholders.
Interim figures for the six months to June 2008 showed a fall in revenues from £5.92m to £4.22m and profits slumping from £111,000 to £25,000. Subsequent trading has been even weaker.
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