Breaking news: Vantis shares suspended
Vantis shares suspended on AIM, and chief executive Paul Jackson steps down
Vantis’ shares have been suspended on AIM, “pending clarification of the
company’s financial position”.
Chief executive Paul Jackson has stepped down as chief executive. Vantis’
Nigel Hamilton-Smith, who had served as joint liquidator at Stanford
International Bank, has also resigned as a director.
Both will retain their executive duties within the Vantis group of companies,
the firm said in a statement to the stock exchange.
Current finance director Steve Smith takes on all executive responsibilities
until a replacement chief executive is found.
While discussions have continued in relation to certain of the company’s
assets as well as with both potential new investors and its debt providers, it
can “no longer be certain that it will continue to have sufficient funding to
enable it to continue to trade on a going concern basis”.
trading suspension follows difficult financial period