Company with only one director suspends shares

Trading in the shares of MBL Group, the AIM-listed entertainment and gardening products supplier based in Preston, has been suspended because of an absence of people to run the company.

The firm, which in August was put up for sale after posting a loss of £158,000 for the year, said the suspension was “due uncertainty over whether the board is able to properly conduct the business of the company given that it has only one director”.

Shares are expected to remain suspended on the AIM until another director is appointed to the board, MBL said.

“The board can confirm that discussions are ongoing with a new potential director and that it hopes to be able to update shareholders shortly,” it said.