Live Company Regulatory News (LVCG)

30 Jun 2006 15:45

Parallel Media Group plc Statement re temporary suspension Parallel Media Group plc ("PMG" or the "Company") has today requested theLondon Stock Exchange to suspend the ordinary shares of 0.5p each in thecapital of the Company from trading on AIM pending publication of the Company'sreport and accounts for the year ended 31 December 2005.Current trading and finalisation of accountsThe Company is in the process of finalising the audited accounts for the year,which have been delayed by the late availability of the audited accounts of itsassociated company, Parallel Media Asia (2003) Limited ("PMA"). The Company'saccounts, which are in the course of being audited, are expected to show a muchreduced loss from trading for the year to 31 December 2005 compared with theprevious year's loss before taxation of ‚£2.7 million. The directors are pleasedto report that trading in the current year has improved in the first half ofthe current year and that they are encouraged by prospects for the second halfof the year. The directors expect that the Company's audited accounts will bereleased during July.PARALLEL MEDIA GROUP PLC