Trading in the shares of William Sinclair, which is short of cash, has been suspended.
The shares were suspended at 9.38p. Net debt was £23.7m at the end of March 2015. The NAV was £4. 54m. A move to new premises in Ellesmere Port has proved costly and difficult to manage but it is becoming more efficient. The Lincoln site is being closed.
Management had been assessing the potential to raise cash from a share placing. There is also the possibility of asset sales. At the end of June the company said that it required cash in a few weeks.
Business is second half weighted but that means that working capital peaks are also during the second half before reducing by the end of September.
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