TheMoodieReport.com

TheMoodieReport.com: "Alpha�s nightmare over as company accounts are approved and shares relisted � 06/07/06
Source: �The Moodie Report
By Martin Moodie
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UK. Alpha Airports Group announced this morning the successful completion of an investigation into its annual results for the year ended 31 January 2006, paving the way for the lifting of the company�s suspension from the London Stock Exchange since 25 April.

The company said that the results for the year ended 31 January 2006 have been audited and reconfirmed with no adjustment.

It said that the Group�s finances are strong and trading is sound. The Board continues to recommend a final dividend of 3.2p.

Alpha said the Investigation by Special Committee into the circumstances leading to the share price suspension* has been completed, �conclusions presented to the Board and actions underway�.

Graham Frost steps down as Chairman. A search for a new Chairman is underway; Chief Executive Peter Williams will act as Chairman in the meantime.

Peter Williams, who replaced Kevin Abbott after the latter's resignation related to the affair, commented: �I am delighted that last year�s results have been confirmed. The Special Committee�s conclusions have been considered by the Board and a number of actions are now underway to ensure appropriate internal controls and corporate governance procedures are in place. We can now move to put the distraction of recent events behind us and focus on taking the business forward.

�With strong finances and sound trading prospects, Alpha is in good shape and has a bright future.�

Chairman Graham Frost said: 'The issues that gave rise to the suspension of the Company�s shares did not affect the results for the "