CSLT.L Regulatory News (CSLT)

Cosalt plc

Re: OFT update

The Board of Cosalt announces that, due to requests for further information by the OFT as part of its consideration of the proposed Disposal of the Marine Business to Survitec, the Disposal is now unlikely to complete by 22 July 2011 as previously expected. In response to this, the Board is now able to confirm that the Group's senior lenders have agreed to extend the waiver relating to the repayment of amounts due under the Existing Facilities and the right to test financial covenants from 22 July 2011 until 19 August 2011, subject to completion of the Disposal on or before this date.

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Note

Unless otherwise indicated, terms defined in the circular to shareholders dated 2 June 2011 have the same meanings in this announcement. A copy of the circular is available from the Company's website at http://www.cosalt.com/_assets/pdfs/investors/circular%20-%20final.020611.pdf.