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Merchant House Group awaits payment for shares

Merchant House Group is still awaiting a £150,000 payment for shares issued by the company in February.

Merchant is awaiting payment of a fifth of the £761,500 raised through issuing 1,087,857,139 new ordinary shares each at a price of 0.07p on February 28.

In a stock exchange announcement, the group said consequently, 214,285,714 shares in the company that have been issued and allotted have not been delivered pending receipt of the payment.

Merchant House says it is continuing to pursue these monies and will make a further announcement in due course.

Earlier this month, Merchant House Group revealed that it issued shares representing 14 per cent of the company’s enlarged issue share capital without announcing the move or admitting the shares to trading on the Alternative Investment Market.

The parent firm of Merchant Capital temporarily suspended its shares on March 29 as a result of this and resumed trading on April 3.  

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