VSH Venue Sol

 

TIDMVSH 
 
RNS Number : 9510R 
Venue Solutions Holdings PLC 
08 May 2009 
 

Venue Solutions Holdings PLC 
8th May 2009 
 
 
 
 
 
 
Venue Solutions Holdings Plc 
 
Further to the announcement of 23rd April 2009 concerning the Court application 
to remove the receiver of YourDay, Inc., the 53 per cent subsidiary of Venue 
Solutions Plc ("Venue Solutions" or the "Company"), the outcome of the 
proceedings is still awaited and the judgment is expected to be delivered 
shortly. However, as a consequence of the receivership, no operations have been 
commenced by YourDay at Alton Towers this year and no fees are being generated 
by YourDay on this account. 
 
Given the current lack of visibility of earnings together with the Venue 
Solutions' Finance Director, Mark Boughton, indicating that he is leaving the 
Company, the Company will be unable to announce its financial results for the 
year ended 30th November 2008 by the end of May 2009 and as a result, dealings 
in the Company's shares on the AIM market are being temporarily suspended, 
pending further clarification. 
 
Venue Solutions has no bank debt and the Venue Solutions Board is considering 
appropriate restructuring proposals in connection with both YourDay and Venue 
Solutions to seek to enable operations at Alton Towers to commence and to enable 
the YourDay offering to be rolled out in other venues. 
 
Further details will be announced in due course. 
 
Enquiries: 
 
 Oliver Iny                                       +44 (0) 207 417 8989 
 Executive Chairman 
 
Haggie Financial LLP                           +44 (0) 207 417 8989 
Nicholas Nelson/Kathy Boate                Nicholas.nelson@haggie.co.uk 
 
Arden Partner plc                               +44 (0) 20 7398 1600 
Richard Day / Adrian Trimmings 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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