Magazine publisher Highbury House Communications has requested that trading in its shares be suspended following the termination of talks to secure refinancing of its existing debts with investors.
The company said that continuing discussions were taking place, and that the vast majority of lenders “continue to be supportive.”
However, in a statement to the City this afternoon the company said that “the future viability of the group is dependent on the successful conclusion of these discussions.”
Last month saw Highbury update investors on the progress of its refinancing and restructuring, explaining that it was making “good progress” in its discussions but stating that shareholders face a “substantial” dilution as a result (see Highbury On Track As Shareholders Warned Of Substantial Dilution).
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