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Friday 27 August, 2010

Radicle Projects Plc

Trading Statement

RNS Number : 8051R
Radicle Projects Plc
27 August 2010
 

27 August 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, has announced previously that the holders of the GBP15.1 million Series A Convertible Loan Note ("Loan Note") had been approached with proposals to convert their Loan Notes into ordinary shares in the Company, and that the Company is considering the purchase of certain other Australian operating agricultural businesses.

 

Following a Board meeting earlier today it was concluded that these proposals are now unlikely to proceed.  The Board is considering the options now available to it, including the possibility that the Board decides to place the Company into administration.

 

A further announcement will be made shortly.

 

Enquiries:

 

Radicle Projects PLC

 

John McLennan

+61 (0) 3 8611 6711

 

020 7016 5300

 

 

Charles Stanley Securities

 

Nominated Adviser

 

Russell Cook / Carl Holmes

020 7149 6000

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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