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Medsea Estates
- BY: Andrew Hore |
- POSTED: 08/09/2008 |
Medsea Estates is the latest company that wants to cancel its Aim quotation.
The Spain-based estate agency says that it will send a document to its shareholders along with its interim results when they are issued. The interims are for the six months to June 2008 so they will have to be reported by the end of September or the shares will be suspended. Both last year’s interims and the 2007 figures were reported on the last possible day of the time allowed.
There is no doubt that trading has been difficult and Medsea lost £1.3m in 2007. Net debt was £414,000 at the end of 2007 but this is likely to have increased if trading hasn’t improved significantly.
Ken Burrage resigned as non-executive director on 31 August.
At 0.875p a share, Medsea is valued at £680,000. Medsea joined Aim on 4 August 2004 at a share price of 85p.
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