BSN Biocare

RNS Number:9949P
Biocare Solutions PLC
13 March 2008


                          Biocare Solutions plc (the "Company")

                            Update on Financing and Trading



Financing



The Board announces that RAB Special Situations (Master) Fund Limited ("RAB"), a
fund managed by RAB Capital plc and a substantial shareholder in Biocare
Solutions plc, is in discussions with the Company to extend its loan facility to
pay off the contractors and suppliers who helped construct its new plant at
Ferrandina as well as for its short term working capital requirements.
Discussions also continue with RAB to restructure its short term loans totalling
�2 million previously drawn down by the Company.

As stated at the time of the interim results announcement released on 28th
September 2007, and more recently in the trading statement released on 17
December 2007, funding to provide necessary short term working capital and
finance production is now required in addition to any extension of the short
term loans currently being discussed with RAB. The Board continues to explore a
number of avenues to access additional capital to secure a more stable long term
future for the business. The directors have deferred their salaries and all
other practicable steps have been taken in order to minimise the running cost of
the business and thus maximise the period of time in which to achieve a
satisfactory medium to long term financial platform for the business. With the
exception of a Euro600,000 leasing facility secured on its bottling line and the
RAB loans, there are no other credit facilities in place. The Ferrandina
facility which was acquired in December 2006 has recently been independently
valued at approximately Euro3.7 million.


A further announcement will be made in due course.


Trading



We are delighted to report that we have just had our first of two visits from a
major Italian retailer who was enthusiastic about our product and the Board is
hoping that the retailer will start taking a range of private label trigger
products in Q2 of this year. Estimated volumes for these products on an
annualised basis are expected to show a volume equivalent to about 70 per cent.
of our production for the whole of last year. Our facility in Ferrandina is now
operational and is capable of producing the volumes that would be required for
these private label products.




Enquiries:

Biocare Solutions plc                                   020 7448 5029
Stuart Anderson, Executive Chairman
Martin Shelley, Finance Director

SPA Way (Public Relations)
07768 991 096
James Poole

KBC Peel Hunt, (Nominated Adviser and Broker)           020 7418 8850
Richard Kauffer
Deon Veldtman






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

TSTSFDFAESASELD

Biocare (LSE:BSN)
과거 데이터 주식 차트
부터 5월(5) 2024 으로 6월(6) 2024

Biocare (LSE:BSN)
과거 데이터 주식 차트
부터 6월(6) 2023 으로 6월(6) 2024