21 May 2010 12:00
X-PHONICS PLC
(AIM: XPH)
Further to the announcement on 29 March 2010 requesting a suspension in trading in the Company's shares, X-Phonics confirms it is in advanced discussions which, if completed successfully, would result in a refinancing and a change in strategic direction. Such an outcome would require shareholders' approval and a further announcement will be made in due course.
The Company is pleased to announce the appointment of Old Park Lane Capital as joint brokers with WH Ireland.
Arrangements are in hand, as part of these ongoing discussions, to publish the Company's preliminary results and audited accounts for the period ended 30 September 2009.
| Contacts: |
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| X-Phonics plc | www.xphonicsgroup.co.uk |
| Mike Hosie, Finance Director | +44 (0) 208 987 0800 |
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| WH Ireland Limited | www.wh-ireland.co.uk |
| John Wakefield / Marc Davies | +44 (0) 117 945 3470 |
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| Old Park Lane Capital plc | fc@oldplc.com |
| Forbes Cutler | +44 (0) 20 7518 2603 |
React Group (REAT)