In his suspension statement, Richard Griffiths, chief executive of Network Data Holdings, said: “The Board of Directors of Network Data announced on 26 March 2009 that the Company was pursuing approaches for its mortgage broking businesses. The Board confirms that an offer had been made by Lighthouse Group plc and accepted by the Group for the mortgage broking businesses during the course of business last week.
“However, the offer required approval from the Group's bankers to proceed to completion and this was not provided in time. The offer has now been withdrawn.
“Given the uncertainty surrounding the Company's financial position in light of the offer being withdrawn, the Board of Network Data has requested a temporary suspension of trading in accordance with the AIM Rules.
“The Board will continue to explore other possibilities for the Company.
“Further announcements will be made in due course.”
