Last checked at 13 Jan 2011 13:17
CSS Stellar plc (the "Company")
Distribution from associated company
The Company is pleased to announce that it has received a special distribution of approximately $430,000 from its US associated company further to the announcement of 17 December 2010. Net of costs, this represents a surplus of approximately $250,000 for the Company.
Julian Jakobi, Chairman, said: "This distribution together with the collection of receivables from motorsports has improved the cash and net asset position of the Company. Coupled with the recent material costs savings, the board feels it is well placed to pursue its proposed Investing Policy details of which will be included in a circular to be sent to shareholders shortly."
For further information please contact:
Julian Jakobi | CSS Stellar plc | 07785 317202 |
Luke Cairns / Edward Hutton | Northland Capital Partners Limited | 020 7492 4750 |