In House’s shares suspended
PROPERTY investor In House has had its shares temporarily suspended after ending its relationship with its nominated advisor, Beaumont Cornish.
In a brief statement the Warrington-based business said trading had been suspended, “pursuant to AIM rule 1”.
Under the rule AIM will suspend the shares of companies with no nominated adviser. If an adviser is not appointed within a month the shares will be cancelled.
In House said the change had been “mutually agreed” with Beaumont Cornish. It added: “In House Group takes this opportunity to thank Beaumont Cornish for their work over the last two years.”
The business has endured a turbulent period with uncertainty in the property sector contributing to widening pre-tax losses of £2.1m during the year to April.
Earlier this month it admitted to a £290,000 shortfall from a £443,000 private placing. While it hoped to recover most of this it expects to fall short of the target by £85,000 which could affect future budgets.
