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Nature Group shares suspended as tax bill adds pressure
Nature Group has suspended its shares after the environmental waste management company said an urgent tax bill had put added pressure on its fragile finances.
The AIM-traded company said on 7 March its financial position was uncertain as it sought to sell its oil and gas business. On 15 March Nature reported interest from potential bidders for its maritime operations and further enquiries about the oil and gas division.
In its latest statement the company said talks were continuing with several potential buyers but it added: "The group has, however, recently been notified of a one-off, immediate tax liability which, combined with the group's existing cash flow constraints, would have a significant impact on the group's liquidity."
The board asked for its shares to be suspended while the company tried to clarify its financial position. Nature is the second company in the past two weeks to be taken surprise by a tax bill. Conviviality suspended its shares on 14 March following the discovery of a £30m payment due to HM Revenue & Customs.