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Premier Direct suspends AIM trading
08.05.08 | Anna Richardson
Workplace books and gifts seller Premier Direct has suspended trading of its ordinary shares on AIM, pending "clarification of its financial position".
The move followed a review of the company's short to medium term cash flow projections by its directors yesterday (7th May), who decided that the company needed additional financial support for the business to continue trading.
In an announcement this morning, Premier Direct said that the company was initiating "urgent discussions" with its lenders, but shareholders should note that "there can be no guarantee that the results of these discussions will lead to a favourable outcome for the company".
The news follows an announcement in January that the company had been forced to raise extra finance after over-buying stock at Christmas.