14th May 2019 16:27
LONDON (Alliance News) - Highway Capital PLC on Tuesday said it is seeking restoration of its shares on the London Stock Exchange as it sunk to a loss in the first half of its financial 2018.
The investment company said it swung to a pretax loss of GBP70,000 in the six months to the end of August 2018 compared to GBP128,000 profit reported for the same period in 2017.
Highway Capital shares were suspended after the UKLA deemed that the loans extended to Mylux constituted a reverse transaction.
Additionally, while Highway Capital said it is seeking the restoration of trading, there is uncertainty over the timeline and possibility of this restoration by the Financial Conduct Authority.
"We remain committed to maintaining minimal operational costs to ensure that maximum funds remain available to invest in projects," said Chair Ludwik Sobolewski.
Related Shares:
Highway Capital