Trading in the shares of XXI Century Investments on London's junior AIM market have been suspended at the request of the Ukrainian real estate firm as efforts to shore up its balance sheet continue. XXI Century said trading on the stock exchange will resume once it is in a position to publish its audited annual accounts for the 12 months to end-December 2009.
Trading in the shares of XXI Century Investments on London's junior AIM market have been suspended at the request of the Ukrainian real estate firm as efforts to shore up its balance sheet continue. XXI Century said trading on the stock exchange will resume once it is in a position to publish its audited annual accounts for the 12 months to end-December 2009.
The company reported that it is still in negotiations with local banks regarding the restructuring of its secured credit facilities and is continuing its search for a strategic investor.
Uncertainty about the financial situation has resulted in the posting of the annual accounts being delayed beyond the 30 June deadline.
'The Company continues to experience significant working capital constraints and, accordingly, is continuing to seek to sell certain non-core and non strategic assets to finance the company's ongoing operations,' XXI Century said.