MFP Music Fes

TIDMMFP

RNS Number : 8743M

Music Festivals PLC

21 September 2012

21 September 2012

Music Festivals plc

("Music Festivals" or the "Group")

Suspension of Trading

The Board of Music Festivals announces that trading in the Ordinary Shares of the Company has been suspended with immediate effect, pending clarification of the Company's financial position.

The Company announced on 2 August 2012 that due to poor trading conditions it expected to generate a material loss for the year ending 31 December 2012 and that it was seeking to raise additional working capital.

The Board has in recent weeks pursued a number of different funding proposals but the Company has not been able to procure the necessary funding it requires. Whilst the Board considers the next steps it has requested that trading in its ordinary shares is suspended and a further announcement will be made in due course.

For further information please contact:

 
 Music Festivals plc 
 Vince Power (Chief Executive)                  Tel: +44 (0)20 7644 
                                                               1420 
 
 Merchant Securities Limited (Nominated Adviser and Broker) 
 Simon Clements/Virginia Bull/Catherine Miles   Tel: +44 (0)20 7628 
                                                               2200 
 
 Mission Public Relations 
 Andrew Murray-Watson                           Tel: +44 (0)20 7845 
                                                               7800 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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