WGT Wallgate

    RNS Number : 7858I
  Wallgate Group PLC
  24 November 2008
   

    Embargoed Release: 14:00hrs Monday 24 November 2008

    Wallgate Group plc

    ("Wallgate" or the "Company")

    Temporary suspension



    Wallgate (AIM ticker: WGT.L) today announces that it has requested a temporary suspension, with immediate effect, of trading of its
shares on AIM, whilst the Company clarifies its financial position. As of today the Board has been unable to raise the required �1,000,000
to enable the Company to continue trading beyond 28 November 2008. The Board is continuing to discuss the Proposed Placing with a number of
potential investors and is also discussing extending the agreement to freeze certain outstanding balances with major commercial creditors of
the Company, but there is no certainty that these initiatives will be successful.

    Capitalised terms in this announcement have the same meanings as in the circular sent to Wallgate shareholders on 29 October 2008.

    A further announcement will be made shortly.


    For further information on the Company please see www.wallgategroup.com or contact:


 Wallgate Group plc       Howard Strowman, Chief           +44(0) 20 7559 1313
                          Executive
                          Simon Fine, Finance Director     +44(0) 12 0470 6624

 Strand Partners Limited  Stuart Faulkner                  +44(0) 20 7409 3494
                          James Spinney

 St Helen's Capital Plc   Ruari McGirr                     +44(0) 20 7628 5582

 Hansard Group            John Bick                        +44(0) 20 7245 1100








This information is provided by RNS
The company news service from the London Stock Exchange
 
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