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Creon Corporation (AMED)

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Thursday 22 September, 2011

Creon Corporation

Trading update and Suspension

RNS Number : 7541O
Creon Corporation PLC
22 September 2011
 



For immediate release:

 

Creon Corporation plc

 

("Creon" or the "Company")

 

Trading update and Suspension

 

The Directors of Creon would like to provide the following update to the market.

 

On 7 July  2011, the Company announced that repayment of a loan totalling £105,602 (including accrued interest) (the "Loan") together with the proceeds of the placing which raised £24,000, would be used by the Company to pay the ongoing running costs associated with being a public company until suitable investments had been identified and further equity funds raised. 

 

The expected repayment of the Company's outstanding Loan has not been forthcoming as expected. The Directors now believe that it is unlikely that repayment will be made under this Loan in the very short term, if at all, and therefore the Directors are in detailed discussions with the Company's advisers to find alternative sources of short term funding, which may take the form of a deeply discounted issue of new equity.   Shareholders should be aware that at this stage there can be no guarantee that funding will be found.

 

As a result of this financial uncertainty, the Directors have requested a temporary suspension in trading of the Company's shares with immediate effect.

 

Further announcements will be made in due course.

 

For further information please contact:

 

Creon Corporation plc                        Guus Berting                             + 31 (6) 2061 8295

Daniel Stewart & Company Plc           Oliver Rigby                              +44 (0)20 7776 6550

GTH Media Relations                         Toby Hall/ Christian Pickel         +44 (0)20 3103 3900

 


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