PAYZ Payzone

 

TIDMPAYZ 
 
RNS Number : 7266G 
Payzone plc 
05 February 2010 
 
5 February 2010 
Payzone Plc 
Suspension of trading on AIM 
(Payzone or "the Company") 
As previously notified on 14 January 2010, the Company is in constructive 
discussions with its finance providers as part of a review of its options to 
establish a more appropriate long-term capital structure for the business. 
As part of these discussions, a private equity firm is considering making a 
significant equity investment in the business. Any investment would be on the 
basis that the current providers of debt finance to the Company agree to write 
off a material portion of the Company's outstanding debt in return for a 
minority investment in the on-going business. The investment would involve the 
acquisition of the business and assets of Payzone plc by a newly established 
company funded by a private equity firm and the Company's current providers of 
finance. While discussions are still ongoing, it is likely that any new capital 
structure for the business will result in no value for existing shareholders. 
The Board notes the continued support of the Company's finance providers and the 
interest shown by private equity in making an investment in the business. It 
remains confident that an appropriate long-term capital structure for the 
business will be found. The Company will make a further announcement in due 
course, pending which trading in the ordinary shares of the Company has been 
suspended with immediate effect. 
 
+----------------------------------------+----------------------------------------+ 
| Enquiries:                                                                      | 
+---------------------------------------------------------------------------------+ 
| Payzone                                | Tel: +353 (1) 207 6600                 | 
+----------------------------------------+----------------------------------------+ 
| Mike Maloney / Nigel Bell              |                                        | 
+----------------------------------------+----------------------------------------+ 
| Panmure Gordon                         | Tel: +44 (0)20 7459 3600               | 
+----------------------------------------+----------------------------------------+ 
| Hugh Morgan / Stuart Gledhill          |                                        | 
+----------------------------------------+----------------------------------------+ 
| Powerscourt                            | Tel: +44 (0)20 7250 1446               | 
+----------------------------------------+----------------------------------------+ 
| Paul Durman / Claire Melly             |                                        | 
+----------------------------------------+----------------------------------------+ 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 SRSEAPALEAXEEFF 
 

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