Suspension of operations
May 30 2008 - 2:14AM
UK Regulatory
RNS Number : 5835V
Silverjet PLC
30 May 2008
30 May 2008
Silverjet plc (" Silverjet")
Suspension of operations
Silverjet announced on 23 May 2008 that it had yet to receive the proceeds of the US$5.0 million drawdown request made under its loan
facility with Viceroy Holdings LLC ("Viceroy"). It also announced that its working capital reserves were limited and that advances under the
loan facility were required as a matter of urgency. Silverjet has not received any further sums from Viceroy.
Silverjet continues to be in discussions with investors interested in supporting the business of Silverjet, however it has yet to
conclude such discussions to its satisfaction.
It is with deep regret that the Board of Silverjet has therefore decided that it must suspend operations with immediate effect. The last
service of Silverjet was the flight from Dubai to London Luton, which departed at 7.30 am (BST) this morning.
A further announcement will be made shortly.
Advice for customers
Information for customers is available on Silverjet's website, www.flysilverjet.com.
Customers should seek refunds of unused segments of tickets from the point of purchase (ie credit card or travel agency).
- ends -
For further information, please contact:
Silverjet 020 7357 9477
Lawrence Hunt, Chief Executive
Hogarth Partnership Limited 020 7357 9477
Fiona Noblet
Sarah Richardson
Arden Partners 020 7398 1638
Chris Fielding
Tom Fyson
This information is provided by RNS
The company news service from the London Stock Exchange
END
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