CRT Chariot (UK)

    RNS Number : 4015Z
  Chariot (UK) PLC
  18 July 2008
   

    For immediate release                                                                                                                   
                                  18 July 2008
    Chariot (UK) plc  (the "Company" or "Chariot")
    Cancellation of quotation on the AIM market

    The Board of Chariot today announces that the Company's quotation on the AIM market of the London Stock Exchange plc ("AIM") will
automatically be cancelled with effect from 8 a.m. on 4 August 2008 pursuant to Rule 41 of the AIM Rules for Companies. At that time, the
Company's shares will have been suspended from trading on AIM for a period of six months.

    Since the Company disposed of its business and assets in 31 January 2007, the Board of Chariot has evaluated a number of potential
opportunities, none of which have been suitable in light of the Company's investment policy nor, the Directors believe, in the best
interests of its shareholders. Furthermore, the Board have worked on prospective transactions which have moved into the due diligence phase
but subsequently been aborted following termination of discussions between the Board and the other respective parties. As a consequence the
Company has been unable to make an acquisition or acquisitions which constitute a reverse takeover under rule 14 or otherwise implement the
Company's investing strategy.

    The Directors intend to continue to consider potential opportunities but consider that it is not possible for any potential transaction
to be completed with sufficient time to enable the Company's trading facility with AIM to be maintained.

    Accordingly, after careful consideration, the Board of Chariot has concluded that the interests of the Company and its shareholders will
be best served if the Company pursued other opportunities as a private company with a view to effecting a transaction in line with the
Company's investment strategy. As at 30 June 2008, the Board's estimated net cash balances were approximately �350,000 which will be
utilised by the Board to implement the Company's investment strategy as a private company.
    

    For further information, please contact:
Chariot (UK) plc                                                                                                                Tel: 0207
763 2200                                 
Pete Townsend, Chief Executive Officer       
Peter Jones, Chairman 
                      
Noble & Company Limited                                                                                              Tel: 0207 763 2200     
                           
Nick Naylor     
Nick Athanas                    


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