Suspension of trading on AIM
2010年2月5日 - 4:30PM
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TIDMPAYZ
RNS Number : 7266G
Payzone plc
05 February 2010
5 February 2010
Payzone Plc
Suspension of trading on AIM
(Payzone or "the Company")
As previously notified on 14 January 2010, the Company is in constructive
discussions with its finance providers as part of a review of its options to
establish a more appropriate long-term capital structure for the business.
As part of these discussions, a private equity firm is considering making a
significant equity investment in the business. Any investment would be on the
basis that the current providers of debt finance to the Company agree to write
off a material portion of the Company's outstanding debt in return for a
minority investment in the on-going business. The investment would involve the
acquisition of the business and assets of Payzone plc by a newly established
company funded by a private equity firm and the Company's current providers of
finance. While discussions are still ongoing, it is likely that any new capital
structure for the business will result in no value for existing shareholders.
The Board notes the continued support of the Company's finance providers and the
interest shown by private equity in making an investment in the business. It
remains confident that an appropriate long-term capital structure for the
business will be found. The Company will make a further announcement in due
course, pending which trading in the ordinary shares of the Company has been
suspended with immediate effect.
+----------------------------------------+----------------------------------------+
| Enquiries: |
+---------------------------------------------------------------------------------+
| Payzone | Tel: +353 (1) 207 6600 |
+----------------------------------------+----------------------------------------+
| Mike Maloney / Nigel Bell | |
+----------------------------------------+----------------------------------------+
| Panmure Gordon | Tel: +44 (0)20 7459 3600 |
+----------------------------------------+----------------------------------------+
| Hugh Morgan / Stuart Gledhill | |
+----------------------------------------+----------------------------------------+
| Powerscourt | Tel: +44 (0)20 7250 1446 |
+----------------------------------------+----------------------------------------+
| Paul Durman / Claire Melly | |
+----------------------------------------+----------------------------------------+
This information is provided by RNS
The company news service from the London Stock Exchange
END
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