Shares have fallen by 40% this morning, and the company is said to be considering emergency rights to fill a gap while it continues to finalise refinancing. Meanwhile, dividends have been scrapped, and the future - judging by the this from CityWire - looks less than rosy:

Underwriting the share issue has been agreed in 'principle' with UBS but Paragon said that it remained conditional on a number of factors which 'may cast significant doubt on the group's ability to continue as a going concern'.

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