FPS Financial Pay.

    RNS Number : 1252X
  Financial Payment Systems Limited
  19 June 2008
   

    19 June 2008

    FINANCIAL PAYMENT SYSTEMS LIMITED
    ("the Company")

    Suspension Update

    On 19 May 2008, trading in the Company's AIM Securities (Ordinary Shares of 5p each) was suspended due to the uncertainty surrounding
the composition of the Board and the resignation of the Company's Nominated Adviser.  

    The Company is in the closing stages of finalising the Annual Accounts for the year ending 31 December 2007 and intends to publish these
before 30 June, in accordance with the AIM Rules.  However, the Company's auditors are yet to conclude their audit of the Company's Joint
Venture in China as access to certain items of audit evidence has proven problematical.  

    Accordingly, the Company's shares will remain suspended from trading on AIM and the Board will keep shareholders advised of future
developments as they arise.  

    The Company is also in the process of seeking reassurances from certain shareholders that the Company's Board will remain stable in the
event that the suspension from trading on AIM can be lifted.

    If by 30 June no reassurances have been given with respect to the stability of the Board composition and the Company has failed to
appoint a Nominated Adviser, the Admission of its AIM securities will be cancelled.

    Contact:
    Financial Payment Systems Limited
    Malcolm Williams
    Tel: +44 (0) 776 868 8869

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