Alvaston to de-list from PLUS

THE publisher behind the now defunct Manchester lifestyle publication, The Magazine, today admitted that its future looks uncertain.

Alvaston Media said it is leaving the Stock Exchange after being issued with a number of county court judgements following the administration of its subsidiary, Marvel Publishing.

PLUS-listed Alvaston Media , which bought the title last year but has failed to breathe new life into the publication, said it is in talks with a number of  parties who may be interested in acquiring an interest in the company but notwhile it is a publicly quoted business.

However, it added that the ongoing future of the business cannot be certain in the event that the “discussions do not conclude positively”.

In a statement it said: “The company now seeks to delist from PLUS as it does not believe that there is a reasonable prospect for it to continue on a listed market. The delisting from PLUS will allow the company to review its position.”

Under the PLUS rules, Alvaston Media is required to give shareholders 10 business days to object to the intended withdrawal of its securities from PLUS market. Any shareholder wishing to raise an objection should contact PLUS in confidence.