Leeds Plc down 29% after share sale postponed

SHARES in Leeds United Plc, who are bottom of the English Premiership, plunged 29% after the company said that a planned share sale won’t go ahead and that it may ask for court protection from its creditors if talks with them fail.

The stock, which has halved this year, dropped 1p to 2.5 pence at 12.55pm in London, cutting the company’s market value by about £3.5 million (5m).

The decline is the stock’s biggest since August, 1994.