Warthog PLC (WHOG.L) was the biggest loser among top five fallers today on AIM following the recent announcement of company’s shares suspension. It was revealed publicly that Warthog PLC trading in its shares on AIM will be suspended with effect from November the 12th.

The move fulfills a pledge made on Sept 29, 2006, and approved at its AGM on Nov 9 that year, to suspend its shares if it had failed to complete a reverse takeover, or otherwise substantially complete its investment strategy, within one year of the AGM.

Warthog said it continues to seek a suitable reverse takeover or investment opportunity.

The company's stock had a tough ride over the last year as the stock was going up and down regularly. The stock, however never hit over 0.20p barrier as the highest pinnacle for the stock was around 0.18p.

Following the announcement of the company's stock suspension on AIM, the stock went down dramatically and was among the biggest losers on AIM today.

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At the time of polishing up this article the stock arrived at a price of 0.05p.

The directors, whose experience includes both financial and operational matters, are primarily seeking a UK based business from within the wider technology sector.

As of 31 March, 2007 the company incurred a total operating loss of £67,973 comparing to £118,629 in the same period ended 2006.

The company had no other financial assets as at 31 March 2007. All financial assets were at floating rates. Other than short-term creditors the company had no other financial liabilities as at 31 March 2007.

Warthog was founded in April 1997 when a group of ex-Electronic Arts people came together with a vision to build the best development-only studio in the business. With the technical foundations firmly set through the creation of a state of the art gaming engine.

Reference

http://www.warthogrule26.co.uk