CSLT Cosalt

TIDMCSLT

RNS Number : 2465B

Cosalt PLC

12 April 2012

Cosalt plc

("Cosalt" or the "Company")

Additional Funding from Oval

The Board of Cosalt announces that it has agreed the terms of a new short term revolving credit facility of up to GBP1 million being provided by Oval, a company wholly owned by the Chairman, David Ross. This is in addition to the GBP7 million of existing loans and GBP4.6 million of bank guarantees already being provided by David Ross. The new facility will be repayable by 30 April 2012 and will be used to support working capital requirements while the Company continues to work on securing a long term financing solution with its banks and the Group's pension trustees.

Enquiries:

 
 Cosalt plc                       Tel: +44 (0) 1472 725560 
  Trevor Sands, Chief Executive 
  Officer 
 

Cardew Group Tel: +44 (0) 207 930 0777

Tim Robertson

This information is provided by RNS

The company news service from the London Stock Exchange

END

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