MWB GROUP HOLDINGS PLC. 
By MWB Business Exchange Plc ("BX")
Further response to statement by MWB Group Holdings Plc ("Group")
Further to the statement on 31st October 2012 made by its 75% majority shareholder, Group, suspending trading in Group's shares and Loan Stock and the subsequent statement by BX deferring publication of its annual results, the Board of BX confirms that BX has proposed the offset of contractual payments of £4.8m due by BX between September 2012 and February 2013 against an outstanding intercompany loan balance of approximately £8.0m due by Group to BX.
Discussions between BX and Group as to the nature of the intercompany loan balance and BX's entitlement to either seek repayment of the loan balance or to offset that balance against the contractual payments referred to above are ongoing and no conclusions have yet been reached. The BX Board's current intention is that it will not release its financial results for the financial year ended 30 June 2012 until this matter is resolved.
A further announcement will be made in due course.
Enquiries:
MWB Business Exchange Plc | |
John Spencer, Chief Executive | Tel: 020 7868 7268 |
N+1 Singer (Nominated Adviser & Broker): | Tel: 0131 529 0272 |
Sandy Fraser |
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