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Cattles shares suspended

Sub prime lender Cattles’ shares have been suspended on the London Stock Exchange due to its inability to post its 2008 accounts.

The door-to-door lender revealed on April 1 that the external review of the potential extent of its impairments was ongoing, but it was not expected that this work would be completed until the outcome of ongoing discussions with Cattles’ debt providers became clearer.

Cattles says these are complex negotiations, which are likely to continue for some time, and the company’s external auditors are not expected to be able to complete their audit of the 2008 financial statements until those negotiations have been concluded.

As a consequence, the FSA require the suspension of trading of the company’s shares and bonds with effect from May 1.

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