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3 May 2011 08:53
Cosalt plc
("Cosalt" or "the Group")
Statement re: Suspension
The Board of Cosalt announces that it is in the late stages of agreeing the previously notified proposed sale of the Group's marine business. The Group's ongoing funding arrangements are conditional on the completion of this transaction. Whilst the Board has made significant progress with these discussions, the Group is not yet in a position to publish its Report and Accounts for the 14 months ended 31 December 2010 by 30 April 2011, as required by Disclosure & Transparency Rule 4.1.3. Accordingly the Group's ordinary shares have been suspended from trading pending publication of its audited accounts.
A further announcement will be made shortly.
ENQUIRIES:
Cosalt plc (www.cosalt.com) Tel: +44 (0)1472 725100
Mark Lejman, Chief Executive
Evolution Securities Tel: +44(0)113 243 1619
Joanne Lake / Peter Steel
Cardew Group Tel: +44 (0)20 7930 0777
Tim Robertson / James Milton
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