News blog
Soccercity
- BY: Andrew Hore |
- POSTED: 30/01/2008 |
Soccercity has decided to ask shareholders to agree to cancel its Aim quotation.
The five-a-side football centres owner believes it is too small and its shares lack liquidity. The shares fell by one-third to 0.1p each, which values the company at £130,000.
Two existing shareholders are lending the company a total of £100,000 and it has already drawn down £40,000 of the money. The loans are interest free but they are repayable in three years “together with a premium of two times the amount drawn down”. The loans are secured on the company’s assets.
Soccercity lost £322,000 in the six months to July 2007. Its net asset value is £776,000, although that includes goodwill of £1.27m.
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