IN BRIEF: Electric Guitar shares suspended as seeks insolvency advice
Electric Guitar PLC - London-based digital marketing and advertising - Asks for shares to be suspended from trading on AIM in London on Tuesday "pending clarification of the company's financial position". Electric Guitar explains that "advanced negotiations for a substantial further investment" in the company are "unexpectedly terminated" on Monday. This, combined with "updated trading information", prompts the board to meet on Tuesday to consider the company's financial position. The board "decided that it should consider all options for the future of the company and that advice from insolvency practitioners should be sought," it says. Back in September, Electric Guitar said its pretax loss for the financial year that ended March 31 widened to GBP1.4 million from GBP537,690, due to one-off acquisition costs of GBP927,605, up from none the year before. Read More