Servelec Group Regulatory News (SERV)

10 Dec 2007 08:45

Servocell Group PLC10 December 2007 10 December 2007 Servocell Group plc ("Servocell" or "the Company") Suspension of Trading The Board of Servocell announces that it has requested a suspension oftrading in its shares with immediate effect pending clarification of itsfinancial position. Further to the announcement made on 5 November 2007 and the Interim Resultsannouncement of 28 September 2007, although the Board has been actively pursuingfunding options, both debt and equity, with potential investors and continues todo so, it has been unable to secure the necessary funding to date. In theabsence of such funding, the Company is unlikely to have sufficient workingcapital to allow it to trade beyond the short term. The Board will continue toevaluate a possible funding structure under discussion, but can not provide anyassurances of the success of such discussions at this time. The suspension will continue pending the conclusion of these discussions atwhich point an appropriate announcement will be made. A further announcement will be made in due course. Press enquiries Servocell Michael Hartley 01279 621 500 Brewin Dolphin Sandy Fraser 0131 529 0272 This information is provided by RNS The company news service from the London Stock Exchange