Ls -3x Avgo Regulatory News (SAVG)

9 Nov 2005 09:57

Fairplace Consulting PLC09 November 2005 Announcement by the Board of Directors of Fairplace Consulting plc ("the Company") Update on current trading Sales for the month of October were affected by weak demand for Cityoutplacement services. While the current outlook for November and December salesis more positive, the October shortfall, which will impact on both profits andcashflow, is unlikely to be recovered. The operating results for the six monthsto 31 December 2005 are therefore expected to be below plan but are currentlyanticipated to be broadly in line with the operating loss before goodwill forthe first half of last year. Assuming the necessary resolutions are approved by shareholders at the AnnualGeneral Meeting on 24 November 2005, it remains the Board's intention to seek toplace 550,000 new ordinary shares with senior management, employees andassociate consultants in order to improve the Company's cash position. As attoday's date the Company's overdraft borrowing is approximately £143,000compared to its overdraft facility of £350,000. The Board will issue a further trading update at the Company's Annual GeneralMeeting on 24 November 2005. For further information contact: Mark Allsup, Chairman 020 7816 0707Fairplace Consulting plc Mark Baker / Brian Thorn 020 7845 7900The Wriglesworth Consultancy This information is provided by RNS The company news service from the London Stock Exchange