Radio First Shares Delisted As Overseas Acquisition Is Delayed

Shares in Radio First, operator of the football club-based Fan Radio Network, have been delisted from the AIM today after the group failed to release its interim financial results on 31 December 2002.

Radio First is in discussions to acquire an overseas media group in a deal which would allow the combined business to secure extra funding for the development of the Fan Radio Network. However, progress in these discussions has been slower than anticipated, causing Radio First to miss its half-year financial results deadline.

A further announcement will be made indicating whether the ongoing discussions can be concluded successfully, allowing the company to return its ordinary shares to trading on the AIM.

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