News blog

Travelzest

• BY: Andrew Hore |
• POSTED: 23/07/2013 |

It appears that there may be no need for a general meeting at Travelzest because chief executive Jonathan Carroll has had his contract terminated.

However, although he is no longer chief executive or an employee of the tour operator Carroll remains on the board for the time being.

Former director Mark Molyneux requisitioned a general meeting in order to remove Carroll as a director.

finance director Adrian Cobbold will run the business for the time being. The board continues to try to renegotiate bank loans and facilities because they were unsustainable. The credit facilities have been extended to the end of August. The bank says that it will then reassess the position.
Interim results are due to be released in the next few days. 

At 1.38p a share, Travelzest is valued at £2m.

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFJuly2013_46.pdf