Your Space shares suspended
SHARES in the serviced office business Your Space were suspended this morning after the company said it needed to clarify its financial position.
Liverpool-based Your Space requested the suspension after talks with a potential buyer for parts of the business came to an end.
In a statement it said it had been in negotiations for a number of weeks regarding a disposal to raise additional finance. A further announcement is expected.
The AIM-listed company has moved away from property investment to focus on providing serviced office space, such as St James’ Court, pictured, in Manchester.
Previously, the company acquired freehold buildings for restoration or conversion to serviced offices, before selling on via a lease arrangement. But the company abandoned this side of the business citing uncertainties in the investment market and the amount of capital a project would tie up.
In its most recent results – the half-year to September 30 – the group made a pre-tax profit of just £2,000 against £2.48m the previous year. Turnover for the six months was down to £3.72m from £9.61m.
