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Statement re. Suspension

24 Jun 2013 12:37

RNS Number : 7067H
Avia Health Informatics PLC
24 June 2013
 



 

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

 

Allenby Capital (Nominated Adviser and Broker)

+44 (0) 20 3328 5656

Nick Naylor

Mark Connelly

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
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