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Venue Solutions Hold (VSH)

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Monday 07 December, 2009

Venue Solutions Hold

Statement re: Cancellation of

RNS Number : 7253D
Venue Solutions Holdings PLC
07 December 2009
 



December 2009


Venue Solutions Holdings plc

("Venue Solutions" or the "Company")


Cancellation of AIM listing


On 8 May 2009, trading in the Company's shares was suspended due to the board becoming aware that the Company would be unable to release its financial results for the year ended 30 November 2008 in accordance with the AIM Rules for Companies. 


The Company and its auditors have made significant progress with the audit of the accounts for the year ended 30 November 2008. However, despite the efforts of the Board and its advisers, the Company was unable to complete the accounts in the necessary timescale. Consequently, the Company is not in a position to comply with the AIM Rules for Companies and trading in the Company's shares will be cancelled with effect from 7.00 a.m. tomorrow.


Following cancellation, the principal effects of the Cancellation would be:


(a)    there would no longer be a formal market mechanism enabling the shareholders to trade their shares through the AIM market and the CREST facility will be cancelled;


(b)    the Company would not be bound to announce material events, nor to announce interim or final results, although it is the board's intention to do so on the Company's website www.venuesolutionsplc.com; and

 

(c)  the Company would no longer be required to comply with any of the corporate governance requirements for quoted companies.


Continued Services to Shareholders

The Board will:


 (a)    continue to post information relating to the Company on the Venue Solutions website (www.venuesolutionsplc.com);


(b)    continue to hold general meetings in accordance with the applicable statutory requirements and the Company's the articles of association of the Company; and


(c)    continue to send Shareholders copies of the Company's audited accounts, by electronic and/or web communication or post if appropriate.





Enquiries:


Venue Solutions Holdings plc


Oliver Iny/Stephen Thomson                           via Haggie Financial Tel: 020 7417 8989  




Merchant John East Securities Limited (Nominated Adviser and Broker)

David Worlidge / Simon Clements

Tel: 020 7628 2200



Haggie Financial LLP


Nicholas Nelson / Kathy Boate

Tel: 020 7417 8989



This information is provided by RNS
The company news service from the London Stock Exchange
 
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