17 Oct 2005 12:41
Earthport PLC17 October 2005 For immediate release Stock Exchange Announcement 17th October 2005 earthport PLC ("earthport") Debt Reduction As part of the review of the business announced on 2nd June 2005, the Board ofearthport is pleased to announce that negotiations with several major creditorshave been concluded, with agreement for the reduction of £4.0 million of debtdown to £1.25 million of debt. On completion therefore, total net liabilitieswill have fallen by £2.75 million. For comparison, reported net liabilities asat 31st December 2004 were £9.2 million. Executive Chairman, Mike Harrison said, "These steps will significantly improveearthport's balance sheet and provide a much firmer base from which to continuedeveloping the business". -End- Press enquiries: Mike Harrison - Executive Chairman, earthport PLC 020 7220 9700 David Nabarro / Nigel Atkinson - Nabarro Wells & Co. Limited 020 7710 7400 This information is provided by RNS The company news service from the London Stock Exchange