Millfield says administration now 'highly likely'

Just three days after the IFA firm announced it was working on a placing of shares to raise a “substantial amount of equity capital”, its executives have admitted there is “insufficient support” for the shares, despite previous claims of a number of interested parties. As a result, the Board of Millfield requested the London Stock Exchange suspend the trading of its ordinary shares at 0.175p while it “seeks to clarify the company’s financial position”. In a statement to the stock exchange late yesterday, Millfield admitted it is now “highly likely” the company and at least some of its s...