Vantis announced this morning that it can no longer be certain that it will continue to have sufficient funding to enable it to continue to trade on a going concern basis.
It states that while discussions continue about the disposal of company assets, trading in the company’s ordinary shares has been suspended pending clarification of its financial position, in accordance with AIM rules.
The board of Vantis has also announced today that chief executive Paul Jackson and head of business recovery Nigel Hamilton-Smith resigned on June 12, 2010.
Finance director Steve Smith will take over all executive responsibilities until a replacement chief executive is appointed.
Vantis says Jackson and Hamilton-Smith will retain their executive duties within the group.