News blog

LZYE Group

• BY: Andrew Hore |
• POSTED: 03/04/2014 |

LZYE Group has decided to leave Aim following the breakdown of talks with a potential provider of finance.

This led to a slump in the share price from 0.78p a share to 0.23p a share, which values the Hong Kong-based children’s education provider at £573,000. Shareholder approval will be sought at a general meeting on 8 May.

There have been fewer than 100 trades in the shares so far this year. LZYE raised £1.5m when it joined Aim in August 2012 and it has been losing money since then.

A matched bargain facility is planned for the shares. Information will be posted on the company’s website (www.lzye.com).

Earlier this year, LZYE sold the Homantin Centre in Hong Kong and decided to temporarily cease lessons, seminars and events in Hong Kong in order to reduce losses and cash outflow. There is no prospect of lessons resuming.

Download the latest AIM Journal from http://wwww.hubinvest.com/AIMPDFMarch2014_54.pdf