Suspension5 Nov 2018 07:04
Headline DJ MySQUAR Limited Suspension of Trading
Date/Time Mon Nov 05 2018
7:00:14
TIDM: MYSQ
RNS Number : 2699G
MySQUAR Limited
05 November 2018
5 November 2018
MySQUAR Limited
("MySQUAR" or the "Company")
Suspension of Trading
The Company announces that it has requested the suspension of trading on AIM of the ordinary shares ("Shares") of no par value in the capital of the Company with effect from 7.30am today pending the clarification of the Company's financial position. This follows a review of the account into which the proceeds were paid of the bond issues announced on 7(th) March 2018 and 20(th) June 2018.
The Company's cash balances are very low and it has sought to draw down on the $1m facility from Rising Dragon Singapore Pte Limited without success. As a consequence there is material uncertainty regarding the Company's working capital position.
The Company has also withdrawn the application for admission to trading on AIM of the 171,428,571 Shares issued by way of a placing announced on 30(th) October 2018.
The Company is continuing to investigate the above matters and further announcements will be made as soon as practicable.