Works Media has been placed in administration.
The film distributor’s shares were suspended on 1 October because it had not published its interim figures for the six months to June 2010. At the suspension price of 0.25p, Works Media was valued at £431,000.
Milcoz Films Ltd has a qualifying floating charge over the company’s assets and it appointed UHY Hacker Young as administrator.
The company’s subsidiaries are not in administration and are trading normally and will be acquired by Milcoz.
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