Primorus Inv. Regulatory News (PRIM)

25 Oct 2007 16:00

CSS Stellar PLC25 October 2007 CSS STELLAR PLC TRADING UPDATE CSS Stellar plc ("the Company") today provides an update to shareholders on theprogress at its wholly owned subsidiary the Peters Fraser & Dunlop Group Limited("PFD"). Since the Company's interim announcement, published on 28 September 2007, PFDhas been in discussions with numerous established talent agents eager to jointhe firm. PFD is now pleased to confirm that it is recruiting new agents tostrengthen its team of dedicated and talented agents and assistants. Over the last few weeks, the Company has been investigating apparentinconsistencies in the payment of commissions and bonuses to certain employeesin recent months. The Company has now decided that this investigation should bewidened to include the period beginning 1 January 2005. This investigation willbe handled independently by external accountants. When the investigation is complete, the Company will decide on the appropriatemeans available to it to recover any monies wrongly paid. Following thedismissal of the two joint managing directors of PFD in September, a furthereleven employees (some of whom were previously directors of PFD) have beendismissed. Group trading remains in line with comments made in the interim announcement,and Management remains confident that underlying businesses provide a sound basefor future growth. - Ends- For further information please contact: CSS StellarDavid Buchler, Chairman Tel: 020 7647 9903 Bell PottingerPiers Pottinger/ Andrew Benbow Tel: 020 7861 3232 This information is provided by RNS The company news service from the London Stock Exchange