Print Published 15th Dec 2011, 17:25

Media Square’s biggest shareholder issues profit warning

Prime Active Capital, the Irish based AIM listed investment company with a 28.5% shareholding in Media Square, today issued a profit warning after its core business showed signs of recording a bigger loss than last year. 

The picture will be made worse by the need to write off in full the £658,000 investment inMedia Square.

While reciting the sequence of events leading up to the demise of Media Square, Prime Active’s chairman Peter Lynch made no comment about whether the company intended to join with Bob Morton’s Hawk Investment Holdings in contemplating action against Media Square’s administrators (see Media Square MBO “in breach of duty to shareholders”).