Media Square shares suspended
Shares in AIM-listed Media Square have been suspended after its bank refused the firm additional funding.
Shares in AIM-listed Media Square have been suspended after its bank refused the firm additional funding.
The public relations company had already warned it was operating with "limited headroom" against its existing facilities and needed more short term funds to deal with a seasonal peak in working capital requirements.
Last week it requested additional funds from its bank to enable to meet future working capital requirements and certain revisions to its existing covenant regime.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
"The company's bank has now informed the board that it cannot commit to amending the company's banking covenants and furthermore will not extend the facilities available to the company at this stage," Media Square said today.
"As a result of the uncertainty surrounding the company's banking facilities, the company has requested that its shares are suspended pending further clarification of its financial position."
Further announcements will be made in due course, the company said.
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
What is the 25x retirement rule and does it work?
The 25x retirement rule has been around for decades but many experts question if it is a suitable strategy
-
When is the self-assessment tax return deadline?
If you are self-employed, rent out a property or earn income from savings or investments, you may need to complete a self-assessment tax return. We run through the deadlines you need to know about