Fairpoint's bank 'unwilling' to provide ongoing support
FRP Advisory Group
144.00p
16:50 18/11/24
Consumer-facing professional services provider Fairpoint Group announced on Wednesday that it had been notified by its bank, AIB Group UK, that it was unwilling to provide the level of on-going support requested by the company.
Financial Services
16,655.77
17:09 18/11/24
FTSE AIM All-Share
727.55
16:50 18/11/24
The AIM-traded firm said that as a result, it was unable to sign-off the audit of its annual report and accounts for the year ended 31 December 2016.
Consequently, the company would not be in a position to publish its annual report and accounts for the year by 30 June as required by Rule 19 of the AIM Rules for Companies.
“Dealings in the company's ordinary shares shall therefore be temporarily suspended under AIM Rule 40 from 0730 BST today until such time as its accounts have been duly published in compliance with AIM Rule 19,” the board said.
The company is currently participating in discussions with alternative providers of finance who may wish to provide support to the company's businesses.”
Further announcements would be made in due course, the board promised.