Avia Health Informatics PLC Statement re. Suspension (7067H)
24 Juni 2013 - 1:37PM
UK Regulatory
TIDMAVIA
RNS Number : 7067H
Avia Health Informatics PLC
24 June 2013
Avia Health Informatics Plc
("Avia" or "the Company")
Suspension from trading of securities on AIM
Further to the announcement made by the Company on 1 March 2013,
Avia has experienced continued ordering delays in the NHS which has
resulted in a deferral of expected revenues. In addition the
Company has experienced a delay in entering into an agreement to
licence the Company's technology to a third party. This licence
agreement was expected to be entered into by the end of June 2013.
These factors will lead to a significant working capital shortfall
and the directors now believe that without an immediate injection
of further capital the Company will be unable to meet its current
obligations. The Company has therefore requested the suspension of
its shares from trading on AIM, pending clarification of its
financial position.
The Directors believe that the positive case for its technology
remains valid and are seeking the necessary capital to overcome the
working capital shortfall. However, should the required capital not
be found, it is likely that the Company, or its principal
creditors, will seek the appointment of an administrator. Further
announcements will be made as and when appropriate.
24 June 2013
Enquiries:
+44 (0) 1494 618
Avia Health Informatics Plc 503
Jeremy Dale, Chief Executive
Tim Morris, Managing Director
Allenby Capital (Nominated Adviser and
Broker) +44 (0) 20 3328 5656
Nick Naylor
Mark Connelly
This information is provided by RNS
The company news service from the London Stock Exchange
END
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