Word on the suspension of Harland Simon Plc’s shares at 20 pence on Friday (CI No 2,001) is that Barclays Bank Plc called in a part of the company’s overdraft facility, leaving it painfully short of working capital: according to the Financial Times, the company had hoped to use the UKP6.9m it got on the sale of Vickerys in July to repay its borrowings and then draw on its overdraft facility, but instead, Barclays kept the money and refused to extend further facilities; the 20 pence at which the shares are suspended compares with the 653 pence at which they stood when the company issued its profits warning in February, which was triggered by exposure to Robert Maxwell firms.
