Nature Group Shares Suspended As Financial Position Weakens (ALLISS)

27th Mar 2018 15:01

LONDON (Alliance News) - Nature Group PLC were suspended from trading on AIM on Tuesday at the company's request whilst it seeks to clarify its financial position.

Nature Group shares were down 5.3% at 3.03 pence per share on Tuesday midday prior to halt.

The news came after the group was hit by a one off, immediate tax liability which, combined with its existing cash flow constraints, it said would have a significant impact on its liquidity.

Earlier in March, Norwegian financial services group DNB granted a verbal waiver deferring the repayment of lease and debt financing facilities worth GBP1.0 million. The company confirmed that it was likely to face "serious liquidity" constraints in case the intended sale of its oil and gas business does not go ahead by late April.

Later in March, Nature Group said it had received indications of interest for the purchase of its Maritime division, as well as further indications of interest in relation to the possible acquisition of its oil and gas operations.

Nature Group said Tuesday it continues to progress discussions with several parties "and will continue to do so".