Directa Plus shares suspended from trading on AIM

(Alliance News) - Directa Plus PLC announced on Monday that trading of its shares on AIM has been suspended with immediate effect.

If no additional funding for the company is secured, directors said they are likely to place the company into administration.

The Lomazo, Italy-based company announced that the board of its Italian subsidiary has requested liquidation, which they anticipate to be completed in late April. The Italian subsidiary will continue to operate until that time.

The graphene product maker company will immediately engage corporate restructuring advisers to protect stakeholder's interests. This comes after Nant Capital LLC, its largest shareholder, sought clarification about whether its up to GBP2.5 million funding facility, announced March 30, can be progressed.

The company is also continuing to explore the sale of non-strategic land held by its Romanian environmental subsidiary, as well as the sale of the subsidiary altogether.

By Joseph Rodgers, Alliance News reporter

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