Pentos dealing halted
Tuesday 28 February 1995
Pentos's future hangs in the balance as bankers and venture capitalists meet today to decide whether to pump in £20m of new funds to keep the company going. Without the money the company will collapse into liquidation.
In a statement, Pentos said it was in discussions with its bankers and other potential investors about a refinancing package to save the company.
The company said: "In view of the comments and rumours in the weekend press, the company has requested dealings in the company's shares on the London Stock Exchange be temporarily suspended with immediate effect."
The company said a further announcement would be made as soon as practicable.
The crisis comes as two banks, Barclays and Midland, have warned they are considering not giving it the extra finance. The banks have already given the company a £55m facility, repayable on demand, which expires today. They have said they would be prepared to extend the existing facility, but any extra funding will need to come from elsewhere. A Pentos spokesman said:"The banks have engaged in extraordinary brinkmanship, putting the company on the rack when they have known for a long time now that 28 February was the crunch date."
The shares had fallen 3.5p to 4.5p by mid-morning, before they were suspended.
- 1 Raif Badawi, the Saudi Arabian blogger sentenced to 1,000 lashes, may now face death penalty
- 2 PornHub turns masturbation into energy in bid to save the planet
- 3 Dakota Johnson's 'It's only Isis' Saturday Night Live sketch sparks controversy
- 4 Robert Mugabe eats a zoo for 'obscene' 91st birthday party
- 5 A teacher speaks out: 'I'm effectively being forced out of a career that I wanted to love'
End of the licence fee: BBC to back radical overhaul of how Corporation is funded
Raif Badawi, the Saudi Arabian blogger sentenced to 1,000 lashes, may now face death penalty
Someone has actually got a tattoo of that dress
PornHub turns masturbation into energy in bid to save the planet
White and gold or blue and black – what colour is the dress? An eyewitness gives a definitive answer
New theory could prove how life began and disprove God
This is what it's like to be dead, according to a guy who died for a bit
'Jihadi John': CAGE representative storms off Sky News accusing Kay Burley of Islamophobia
Ukip would cut billions from Scottish budget to fund English tax cuts
End of the licence fee: BBC to back radical overhaul of how it is funded
Russia's roadmap for annexing eastern Ukraine 'leaked from Vladimir Putin's office'
iJobs Money & Business
£15000 - £16000 per annum: Recruitment Genius: A Customer Service Advisor is r...
£22000 per annum + pension,bonus,career progression: Ashdown Group: An establi...
£40000 - £50000 per annum + pro rata: SThree: SThree Group have been well esta...
£30000 - £37000 per annum: Recruitment Genius: Established in 1999, a highly r...