Trading Statement


 

TIDMRDP 
 
RNS Number : 2397O 
Radicle Projects Plc 
25 June 2010 
 

25 June 2010 
                              Radicle Projects plc 
                      ("Radicle Projects" or the "Company") 
 
                                 Trading Update 
 
Radicle Projects, the AIM quoted UK company which owns and operates Australian 
agribusiness assets, announced on 9 June 2010 that the Board was continuing with 
the restructuring of the Company to reduce its cash outgoings. The Company has 
made good progress in its endeavour to reduce its management and operating 
costs, however as previously announced certain of the Company's assets continue 
to require on-going funding and the Company therefore remains cashflow negative. 
 
The Company can also report that it has been in on-going discussions with the 
holders of the Series A Convertible Loan Note (XS0305254939) (the "Note 
Holders") and following a meeting between the Company and the Note Holders, the 
Note Holders have agreed to release GBP200,000 from the trust account of the 
Series A Convertible Loan Note which will provide Radicle with sufficient 
working capital to meet its obligations as they fall due until at least early 
August 2010.  In addition, the Board continues to explore ways to restructure 
the Company so as to secure its future and thereby provide a long term solution 
for both shareholders and Note Holders, that will not only allow the Company to 
meet its obligations as they fall due but provide the platform from which to 
grow. 
 
Further announcements will be made as and when appropriate. 
 
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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