Leeds Group plc (GB:LDSG) has released an update.
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Leeds Group plc has announced that trading in its ordinary shares will be suspended from 30 September 2024, as it has become an AIM Rule 15 cash shell and has not completed a Re-admission Transaction. The company is exploring an alternative trading facility on the AQSE market, subject to meeting a minimum capitalisation requirement. Financially, Leeds Group holds three commercial properties in Germany, generating an annual rental income of £440,000, expected to cover operating expenses for the next five years, despite a current debt of EUR 2 million and a delayed recovery of funds from tax and insolvency proceedings.
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