Actionleisure shares temporarily suspended

Actionleisure plc – formerly known as Caverdale Group plc before a name change in January 2000 – is the parent company of Crabtree Sports and Leisure. An announcement about an acquisition or a disposal is expected on Monday, hence the suspension of the shares
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Actionleisureplc is listed on the London Stock Exchange and its shares were suspended “pending the release of its preliminary financial statement for the year ended 31 December 2000.”

An AGM is due to take place on Monday May 7th. At this AGM it is expected news of what the London Stock Exchanges calls a "class one transaction" will take place. This is something that needs shareholder approval and is likely to be a major acquisation or disposal.

The PLC had a turnover of £37.1m in the six months ended 30th June 2000, down from £37.4m in the same period in the previous year.

Operating profits amounted to £1 million before the amortisation of goodwill and Internet costs (1999: £1.56 million); earnings per share were negative at (1.3p) (fully diluted - 1.3p) as compared with a positive figure of 1.1p (also 1.1p fully diluted) in 1999.

Crabtree Sports and Leisure turned over £2.8m in the six months to June 2000, up from £2.3m during the same period the previous year.

“However, these improved sales were achieved at the expense of margin which resulted in a small loss being recorded,” said last year’s financial statement from Actionleisure plc.

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