Radio First this morning said that it is in discussions with a number of parties about securing additional funding for further development of its football club-based Fan Radio Network (see Radio First On Target For Football Station Launches).
In a trading statement this morning, the group said that it needs extra investment in its four existing stations in the short term, but warned that there is no guarantee that its discussions will be successful.
Radio First is also in final stage negotiations with two Premiership football clubs to develop further the Fan Radio Network. If these talks are successful, the company will need to raise additional funds to set up the radio stations at each club.
The interim results for the six months ended 31 March 2002 have not yet been approved. As a result, trading in the Company’s shares will be suspended from 7:00am on Monday 1 July 2002.
