Cattles suspends shares

Cattles, the parent of Welcome Finance has requested trading in it shares be suspended pending the publication of its audited report and accounts for the year ended 31 December 2008.

The lender says it is unable to publish its accounts for 2008 until the “complex negotiations” around debt financing are completed.

A statement from the company says: “The company is making every effort to conclude a satisfactory agreement with all the parties involved to secure the refinancing it requires as soon as possible.

“However, 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.”