News blog
Widney
- BY: Andrew Hore |
- POSTED: 13/02/2009 |
Widney has pulled its cash call and asked for its shares to be suspended.
The shares were suspended at 2p a share, which values Widney at £520,000.
The engineer said that it needed the new cash to continue to trade when it announced the cash call in January. Widney has been hit by the weak automotive market and the £425,000 share placing and £245,000 loan stock issue were supposed to provide the cash that Widney needed to continue trading.
Management says that a further deterioration in trading means it can’t carry on with the fund raising. However, Widney still needs cash to continue to trade. The company is considering alternative ways of raising cash.
The EGM for the fund raising has been adjourned.
© 2024 Aim Micro. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
- Browse by issue
- All issues
- Popular tags
- All tags
- AIM Micro feeds
Keep up to date with articles published at AIMMicro.com. Subscribe to AIM Micro RSS Feeds
|