News blog
Medsea Estates
- BY: Andrew Hore |
- POSTED: 06/04/2009 |
Medsea Estates looks set to lose its Aim quotation following the resignation of its nominated adviser and broker HB.
The shares were immediately suspended at 0.18p each, which values the Spain-based estate agency at £140,000.
Medsea has been toying with cancelling its Aim quotation since September 2008. It subsequently said that it had received a number of approaches that propose alternatives to cancellation. Nothing has been heard about this since then.
In March 2009, Medsea said that it made a loss of around £147,000 on revenues of £10.8m in 2008. Three-fifths of the revenues relate to business in Italy. Commissionson these sales are disputed and if they are not recovered there could be a £2m write-off.
Medsea had around £10,000 of cash on 17 March 2009.
There is one month to find a replacement nominated adviser or the quotation will be cancelled on 7 May 2009.
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