CSLT Cosalt

TIDMCSLT

RNS Number : 5838E

Cosalt PLC

01 June 2012

Cosalt plc

('Cosalt' or the 'Company')

EXTENSION OF SHORT TERM CREDIT FACILITY

Further to the announcement on 1 May 2012, the Board of Cosalt has agreed with Oval (a company wholly owned by David Ross) an extension of a further one month, to 30 June 2012, for repayment of the short term GBP1million credit facility provided by Oval.

As announced on 16 May 2012 in its interim management statement, the Company is continuing discussions with David Ross, and with the Group's pension trustees and its banks to secure a longer term financing solution. Pending a successful conclusion of these discussions, the Group is not yet in a position to publish its Report and Accounts for the 12 months ended 31 December 2011.

The Board is continuing to focus on finding a solution to the longer term finance needs of the Group and will make a further announcement as soon as possible.

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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