Honeycombe Leisure shares suspended ahead of takeover announcement

11 May 2007 by
Honeycombe Leisure shares suspended ahead of takeover announcement

Struggling pub chain Honeycombe Leisure has had it shares suspended from the Alternative Investment market (AIM) after speculation about a takeover pushed up its share price.

The company, which warned in January that without a rescue deal it would be unlikely to be able to keep trading, requested the action and said it would make a further statement in due course.

Honeycombe did confirm it "was in advanced talks regarding a possible acquisition" likely to constitute a reverse takeover under the rules of AIM.

A reverse takeover occurs when a listed company is taken over by one that is not. The acquirer then takes on the stock market listing.

Honeycombe's future in the balance >>

Still no buyers for struggling Honeycombe Leisure >>

Honeycombe Leisure chairman in talks for company >>

By Chris Druce

E-mail your comments to Chris Druce](mailto:chris.druce@rbi.co.uk?subject=Honeycombe Leisure shares suspended ahead of takeover annoucement) here.

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