The Board of M&L Property & Assets announces that it has been informed by the Company’s asset manager, M & L Capital Management Limited, that unauthorised sales of Company properties have apparently taken place and that there is a possibility that Company funds have been misappropriated.
The Board is urgently investigating this matter and will report back to shareholders as soon as possible.
In the meantime, due to the fundamental uncertainty created, the Board has requested that the Company’s shares be suspended from trading on AIM with immediate effect.
Update 1 March 2016
Cairn Financial Advisers LLP has resigned as nominated adviser and broker to the Company with immediate effect. M&L have a month to find a replacement NOMAD or their shares will be cancelled from trading.
PHU : M&L Property says properties and funds may have been misappropriated