Sign In
Last checked at 
6 Nov 2008 17:17
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
Follow the stocks
