APN Appian

    RNS Number : 6686H
  Appian Technology PLC
  06 November 2008
   

    APPIAN TECHNOLOGY PLC ("Appian" or "the Company")

    6 November 2008

    UPDATE ON FINANCIAL POSITION

    Further to the announcement on 31 October 2008, the Board of Appian (the 'Board') announces that it continues in its discussions with
various parties in relation to a potential fundraising to strengthen its balance sheet and provide working capital for the Company.  The
Board has, as yet, been unable to secure this funding which should ensure the Company's working capital requirements.

    The Board has filed a notice of intention to appoint administrators, which remains in force until the close of business on Friday 14
November 2008.  The Board continues to work to find a solution for the Company's financial issues and is in ongoing discussions with various
parties, although it is not clear at this stage what the outcome of these discussions will be.

    A further announcement will be made in due course.

    Appian Technology plc                          tel: 01628 554 754
    Pat Ryan

    St Brides Media & Finance                   tel: 020 7236 1177

    Arbuthnot Securities                              tel: 020 7012 2000
    Tom Griffiths


This information is provided by RNS
The company news service from the London Stock Exchange
 
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