Edition:
United States

Paragon Entertainment Intends To Appoint Administrators, CEO Resigns


Thursday, 20 Jun 2019 09:00am EDT 

June 20 (Reuters) - Paragon Entertainment Ltd ::INTENTION TO APPOINT ADMINISTRATORS.HAS RESOLVED TO APPOINT ADMINISTRATORS TO COMPANY AS SOON AS POSSIBLE..DOES NOT HAVE SUFFICIENT CASH RESOURCES TO CONTINUE TO TRADE AND TO PAY ITS CREDITORS AS THEY FALL DUE.REQUESTED A SUSPENSION OF TRADING IN ITS SHARES ON AIM WITH EFFECT FROM 2.00 P.M. ON 20 JUNE 2019.INTENDS TO APPOINT ADMINISTRATORS SHORTLY WITH PURPOSE OF SEEKING BUYERS FOR CO'S BUSINESS, ASSETS ON A GOING CONCERN BASIS.BOARD HAS TAKEN DECISION TO PLACE COMPANY INTO ADMINISTRATION.DAMIEN LATHAM, CEO OF COMPANY, HAS RESIGNED FROM COMPANY WITH IMMEDIATE EFFECT..