Trading Statement
2010年6月9日 - 7:48PM
RNSを含む英国規制内ニュース (英語)
TIDMRDP
RNS Number : 3182N
Radicle Projects Plc
09 June 2010
9 June 2010
Radicle Projects plc
("Radicle" or the "Company")
Trading Update
Radicle Projects, the AIM quoted UK company which owns and operates Australian
agribusiness assets, has today confirmed that the deferred coupon payment due on
the 30 June 2010 in respect of Series A Convertible Loan Note (XS0305254939)
(the "Loan Note") amounting to GBP1.208 million has now been paid to bondholders
for value 8 June 2010 following a noteholder committee resolution.
As announced on 14 January 2010, Radicle had completed a restructuring of the
Loan Note following approval by noteholders. As part of the restructuring the
coupon interest payment due in December 2009 was deferred until 30 June 2010.
The next coupon interest payment will be reduced to approximately GBP816,000
following the Loan Note restructuring, and is due on 31 December 2010.
The Board can also report that the company reorganisation and operating cost
reductions has resulted in a significant reduction in cash outgoings.
Nevertheless certain of the Company's assets continue to require on-going
funding and the Company therefore remains cashflow negative. Further asset
sales will be required to continue to finance the Company's operations and
Radicle expects to be in a position to announce shortly the further sale of
certain assets as part of the restructuring programme.
Enquires:
+-------------------------------------------+----------------+
| Radicle Projects PLC | |
+-------------------------------------------+----------------+
| Tim Bennett | +61 (0) 3 8611 |
| | 6711 |
+-------------------------------------------+----------------+
| | 020 7016 5300 |
+-------------------------------------------+----------------+
| | |
+-------------------------------------------+----------------+
| Charles Stanley Securities | |
+-------------------------------------------+----------------+
| Nominated Adviser | |
+-------------------------------------------+----------------+
| Russell Cook / Ben Johnston | 020 7149 6000 |
+-------------------------------------------+----------------+
This information is provided by RNS
The company news service from the London Stock Exchange
END
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