15th Apr 2024 12:25
East Imperial PLC - New Zealand-based producer of tonic waters and drink mixers - Requests and has been granted a suspension in trading of its shares on the Main Market in London, effective immediately. Says it has ceased trading, with board seeking the appointment of an administrator or a liquidator to the company. Says the board will provide an update to shareholders "as soon as possible".
On Friday last week, East Imperial said it was in talks with advisors after receiving a GBP2.2 million convertible note redemption notice from INL Investment Ltd, which it was "unable to meet". It warned: "The company is unable to meet this redemption liability and therefore the board is now in discussions with professional advisors in connection to the company's possible administration or liquidation, and with the FCA regarding the potential suspension of trading of the company's shares."
By Greg Rosenvinge, Alliance News senior reporter
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