Last checked at 28 Jun 2017 07:30
Fairpoint Group plc
("Fairpoint", the "Group" or the "Company")
Suspension of trading on AIM pending publication of annual accounts
The Company announces that it has been notified by its bank, AIB Group (UK) plc, that it is unwilling to provide the level of on-going support requested by the Company.
As a result, the Group is unable to sign-off the audit of its annual report and accounts for the year ended 31 December 2016. Consequently, the Company will not be in a position to publish its annual report and accounts for the year ended 31 December 2016 by 30 June 2017 as required by Rule 19 of the AIM Rules for Companies ('AIM Rules').
Dealings in the Company's ordinary shares shall therefore be temporarily suspended under AIM Rule 40 from 7.30 a.m. today until such time as its accounts have been duly published in compliance with AIM Rule 19.
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 will be made in due course.
Notwithstanding the suspension of trading in the ordinary shares, the Company will continue to make announcements as and when there are any developments that require announcement under the AIM Rules.
Fairpoint Group plc
David Broadbent, Chief Executive Officer 020 3128 8794
Shore Capital (Nomad and Joint Broker)
Mark Percy 020 7408 4090
Edward Mansfield
MHP Communications
Reg Hoare fairpoint@mhpc.com
Hannah Winter 020 3128 8793