21st Jan 2016 09:25
LONDON (Alliance News) - Eco City Vehicles PLC shares were suspended from trading on AIM on Thursday after failing to make an investment in its first year as an investing company.
Eco City, which fell into administration in 2014 after losing a contract with German carmaker Mercedes-Benz, whereby Eco City used to convert old Mercedes cars and sell them into the London taxi market, said its shares would be cancelled in six months if it fails to make an investment.
At the end of December, Eco City raised GBP5.0 million to back its future investment plans and said Thursday it remains confident it will be able to secure an acquisition within the next six months, by July 20.
By Sam Unsted; [email protected]; @SamUAtAlliance
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