Statement re. Suspension
11 2월 2009 - 4:30PM
UK Regulatory
TIDMIPH
RNS Number : 1286N
Interactive Prospect TargetingHdgs
11 February 2009
Interactive Prospect Targeting Holdings Plc
("IPH" or "the Group")
Statement Regarding Suspension
Interactive Prospect Targeting Holdings Plc (AIM:IPH) today announces the
departure from the Group board, effective today, of Stephane Zittoun and
suspension of trading of its shares on AIM.
Since the Group's announcement of 29 September 2008, IPH has been working to
restructure its activities. This has resulted in disposal of the Company's UK
activities, as announced on 29 September and 11 November 2008, and the
restructuring of the management and earn-out arrangements with one of its French
subsidiaries, Directinet SA ("Directinet"), as announced on 17 November 2008.
The Company has been negotiating with the original vendors of its other French
business, NP6 SAS ("NP6"), in order to allow the Company to meet any earn-out
obligations it may have in relation to the acquisition of NP6 within the
financial constraints currently imposed on the Company.
Negotiations with the vendors of NP6 continue but have not, so far, been
productive. The vendors have launched a legal action in France against the
intermediate holding company Direct Excellence Limited ("DEL") which, until it
is resolved, leaves the board of IPH uncertain as to its future. The claim of
the vendors is against DEL and the trading of the French subsidiaries is not
affected by such litigation.
Given this uncertainty, the Board has requested a suspension of trading of the
Company's shares on AIM pending the clarification of the Company's financial
position. A further announcement will be made in due course as appropriate.
11 February 2009
For further information:
+-------------------------------------------+----------------------------+
| Canaccord Adams | |
+-------------------------------------------+----------------------------+
| Eli Colby/Mark Williams, Nominated | Tel: +44 (0) 20 7050 6500 |
| Adviser | |
+-------------------------------------------+----------------------------+
| eli.colby@canaccordadams.com | www.canaccordadams.com |
+-------------------------------------------+----------------------------+
| | |
+-------------------------------------------+----------------------------+
| Media enquiries: | |
+-------------------------------------------+----------------------------+
| College Hill | |
+-------------------------------------------+----------------------------+
| Mark Garraway | Tel: +44 (0) 20 7457 2020 |
+-------------------------------------------+----------------------------+
| mark.garraway@collegehill.com | |
+-------------------------------------------+----------------------------+
This information is provided by RNS
The company news service from the London Stock Exchange
END
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