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Ceramic Fuel Cells (CFU)

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Monday 02 March, 2015

Ceramic Fuel Cells

Appointment of Voluntary Administrators

RNS Number : 1793G
Ceramic Fuel Cells Limited
02 March 2015
 

                                                                                                                        Market

Announcement

 

 

 

Monday 2 March, 2015

 

 

ASX/AIM: CFU

 

 

Appointment of Voluntary Administrators and immediate suspension of the Company's shares from trading

 

The Directors of Ceramic Fuel Cells Limited (Company) have resolved to place the Company into external administration. Adam Nikitins and Justin Walsh of Ernst & Young have been appointed Voluntary Administrators of the Company, with effect from yesterday evening. The appointment of the Voluntary Administrators to the Company in Australia will also impact the international corporate operations of the Company, which the Voluntary Administrators will consider.  

 

The Company has been unsuccessful in securing further funding to enable it to explore a corporate transaction to maintain the ongoing future operations of the Company and the Directors have been left with no option but to place the Company under external administration.

 

The Board deeply regrets the inconvenience and disruption that this will cause the Company's workforce and clients.

 

In light of the above, the Company has requested suspension of the Company's shares from trading with immediate effect.

 

The contact details of the Voluntary Administrators are:

 

Ernst & Young

8 Exhibition Street

Melbourne VIC 3000

Telephone: (03) 9288 8000

Facsimile: (03) 8650 7706

 

Dated:  2 March 2015

 

                                      

 

Adam Nikitins                                        Justin Walsh

Voluntary Administrator                         Voluntary Administrator

 


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