Humberts, the troubled estate agency, is struggling to implement its financial rescue package.
The firm, which is 20% owned by Vincent Tchenguiz, warned that its proposed £2.25m equity issue was in doubt.
At a general meeting of Humberts earlier today, the resolutions for the issue were passed, however the board said that it was still conditional on a number of issues which might not be satisfied.
It said: ‘It may be difficult or impossible to satisfy certain key conditions.’
The key conditions are:
Humberts’ failure to pay the minimum 60% by value of the deferred consideration to the vendors of businesses it purchased in 2006 and 2007.
Lower prices than expected from disposals of certain businesses might have a ‘significant negative impact’ on cashflow forecasts.
Humberts' shares slumped 18% to 3.88p in response to the news.
