TIDMHTI

RNS Number : 8491D

Hawtin PLC

29 March 2011

HAWTIN PLC

STATEMENT RE SHARE SUSPENSION

The Board of Hawtin PLC ("Hawtin" or the "Company ") regrets to announce that it has requested an immediate suspension in the trading of its shares pending clarification of its financial position.

The Company received notice today of a demand from Anglo Irish Bank Corporation Limited ("AIBC") for the immediate payment of GBP3m under a parent company guarantee provided by the Company in relation to Millenium Plaza, the property owned by Hawtin's subsidiary, Crown Investments Limited.

The Directors of Hawtin believe that Millenium Plaza may have been sold by the LPA receiver. As previously announced, Hawtin had tried to enter into discussions with AIBC regarding this guarantee but without success. The Directors believed that, whilst remote, it was possible that a solution could have been found for Millenium Plaza that could have delivered some additional value to AIBC and Hawtin shareholders.

Hawtin is currently unable to meet this guarantee liability.

Enquiries:

 
 Hawtin PLC 
 Nicola Crickmore, Company Secretary    Tel: 01633 682130 
 
 Seymour Pierce Limited 
 Guy Peters / David Foreman            Tel: 020 7107 8000

This information is provided by RNS

The company news service from the London Stock Exchange

END

SRSLLFESVLIAFIL

Hawtin (LSE:HTI)
Gráfica de Acción Histórica
De May 2024 a Jun 2024 Haga Click aquí para más Gráficas Hawtin.
Hawtin (LSE:HTI)
Gráfica de Acción Histórica
De Jun 2023 a Jun 2024 Haga Click aquí para más Gráficas Hawtin.