26th May 2016 10:41
LONDON (Alliance News) - Environmental Recycling Technologies PLC requested the suspension of its shares on Thursday as it considers possible propositions following the collapse of previous talks earlier this month.
Earlier in May, Environmental Recycling said talks with its partners about developing an alternative method of disposing waste had broken down after more than six months of discussions.
The firm said it was considering several other business propositions which had been tabled with a view to securing its long-term future.
However, following the collapse of the previous talks, trading volumes in the company's shares had been "unusually high" and the company said it was "concerned that an orderly market in the shares must be maintained while these commercial discussions continue."
As a result, it has requested the immediate suspension of its shares.
Shares in the company had been trading up 7.1% at 0.03p prior to the suspension on Thursday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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