Allied Radio, whose principal stations are Mercury and County Sound in the Home Counties, yesterday announced plans to reconstruct its share and loan capital and make a rights issue.
The shares were suspended at 10.5p. The restructuring will involve the conver- sion of £5.8m loan stock into shares. Last June Allied revealed pre-tax losses of £1.17m in the six months to March 93. Allied has bid for the new West Midland FM radio franchise, whose winner will be announced soon.
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