14th Dec 2015 09:56
LONDON (Alliance News) - Bulgaria-focused property investor Black Sea Property Fund Ltd on Monday said there is a risk the company will not be able to implement its investing policy in time to stop its shares being cancelled from trading on AIM.
The fund was suspended in July 16 after it failed to implement its investing policy in time under AIM rules, giving it until January 16 to make an investment or be cancelled from AIM.
The company said it has identified a number of possible property investments, but these remain subject to due diligence and determination of whether AIM will consider these deals will represent the company having implemented its investing policy.
As a result, the company said there is a risk it may see its shares cancelled from AIM in January, at which time it would convene a general meeting to decide on its future.
Shares in the company are still suspended.
By Sam Unsted; [email protected]; @SamUAtAlliance
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