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24 Jun 2013 12:37
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:
Avia Health Informatics Plc | +44 (0) 1494 618 503 |
Jeremy Dale, Chief Executive Tim Morris, Managing Director
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Allenby Capital (Nominated Adviser and Broker) | +44 (0) 20 3328 5656 |
Nick Naylor Mark Connelly
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