TVC TV Commerce

    RNS Number : 8731C
  TV Commerce Holdings PLC
  05 September 2008
   

    TV COMMERCE HOLDINGS PLC (THE "COMPANY")

    STATEMENT RE SUSPENSION
    AND
    TRADING UPDATE


    On 26 June 2008, the Company's shares were suspended from trading on AIM pursuant to AIM Rule 19 as it was unable to publish and send
its annual audited accounts to shareholders within 6 months of its year end.
    The report and accounts for the year ended 31 December 2007 are being posted to shareholders today and the Company has also today
released its financial results for the year ended 31 December 2007.
    The Company's shares remain suspended pending clarification of the Company's financial position. The suspension will continue until the
Company completes a fundraising or an acquisition which constitutes a reverse takeover (as defined by the AIM Rules).

    TRADING UPDATE

    Following the return of capital to Shareholders on the 17 March 2008, the Company receives limited financial support from a substantial
shareholder to meet a shortfall against present requirements, however, the Directors are not satisfied the Company can continue to meet its
liabilities when they fall due and are carrying out a more detailed investigation to determine the Company's financial position. In the
absence of alternative sources of finance the Company may not be able to continue to operate.

    The Company is currently in discussions with its major shareholders and other providers of finance with a view to a fundraising which,
if successful, would involve the publication of a circular convening a general meeting to seek the approval of shareholders for a capital
reorganisation and a fundraising.

    A further announcement will be made in due course.


    For further information contact:

 Vince Stanzione, CEO              TV Commerce Holdings plc            Tel: 013 4484 5000
 David Newton, Nominated           Dowgate Capital Advisers Ltd        Tel: 020 7492 4777
 Adviser                                                             
 Neil Badger, Broker               Dowgate Capital Stockbrokers Ltd    Tel: 012 9351 7744


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