17 Mar 2009 14:00
Pure Wafer plc ("Pure Wafer" or the "Company")
Further trading update and suspension of trading on AIM
Swansea based Pure Wafer plc updates the market on current trading as follows:
"The wafer reclaim business remains extremely problematic and the rapid downturn in trade across the world has made the challenges the Company faces more significant. As previously notified, the Board has been seeking further equity funding and has been negotiating with its bank and other funders, however a resolution has yet to be reached. Although the Board is still in negotiations with its funders, the Company's working capital and cash position remains under significant pressure and therefore the Board has requested that trading in its ordinary shares be suspended with immediate effect, pending the clarification of the financial position of the Company.
Offer talks terminated
"The Board's discussions with a third party have not resulted in a viable proposal for the business which could be put to shareholders. The Board is therefore no longer in discussions which may lead an offer for the equity share capital of the Company.
"A further announcement will be made in due course."
| Enquiries: | |
| Pure Wafer plc | 01792 311 200 |
| Peter Harrington, Chief Executive Officer | |
| Stephen Boyd, Chairman | |
| | |
| Altium | |
| Phil Adams/Paul Lines | 0161 831 9133 |
| | |
| FD | 020 7831 3113 |
| Billy Clegg/Ed Westropp | |