11th Nov 2010 12:00
Metro Baltic Horizons plc (MET.L)
Suspension of shares
11 November 2010
The board of directors of the Company today announces that it has been made aware of potential inconsistencies relating to the Company's financial arrangements.
Pending further investigation, the Company has requested that trading in the Company's shares on AIM be suspended with immediate effect.
The Company also announces that James Kenny, a key principal of the investment manager, has resigned from the Supervisory Board of Metro Capital Management AS (the "Investment Advisor") and from the Board of Metro Frontier Limited (the "Manager")
A further announcement will be made in due course.
For further information, please contact:
Fairfax I.S. PLC (Nominated Adviser and Broker) James King Tel: +44 (0) 20 7598 5368 |
Notes to Editors
Metro Baltic Horizons (ticker code: MET.L) is a property investment company targeting development opportunities in the cities of St Petersburg, Russia and Riga and Tallinn, the capitals of Latvia and Estonia respectively. The Company's Investment Manager is a member of the Metro Capital Management Group, an experienced property asset manager and developer with offices in Riga, Tallinn and St Petersburg. It has a team of 18 experienced professionals managing a portfolio of 21 projects across the region where it has been active since 2001.
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