Statement re suspension
September 07 2010 - 1:43AM
UK Regulatory
TIDMCNT
RNS Number : 2569S
Connaught PLC
07 September 2010
Connaught plc
("Connaught" or the "Group")
Statement re: Suspension
On 29 July 2010, Connaught announced that it had agreed the terms of a short
term overdraft facility. Since that date Connaught has had continuing
discussions with its lenders and other sources of finance with the objective of
securing additional funding and a restructuring of the Group's financing for the
longer term.
The Group now believes that the availability of additional funds from its
lenders will not be forthcoming and, whilst it remains in discussions with other
parties, the ability to provide an adequate solution to the funding issues the
Group faces has become increasingly uncertain. Accordingly, pending
clarification of the Company's financial position, Connaught has requested a
suspension of the trading of its shares on the London Stock Exchange with
immediate effect.
A further announcement will be made in due course.
Enquiries:
+------------------------------+------------------------------+
| Paul Haines | 01392 340667 |
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| | |
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| | |
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This information is provided by RNS
The company news service from the London Stock Exchange
END
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