Statement re: Suspension


 

TIDMPROV 
 
RNS Number : 9374N 
Proventec PLC 
21 June 2010 
 

 
+------------------------------+------------------------------+ 
| Press Release                |                 21 June 2010 | 
+------------------------------+------------------------------+ 
 
                                 Proventec Plc 
 
                         ("Proventec" or the "Company") 
 
                            Statement re: Suspension 
 
 
The Board of Proventec announces that trading in the Ordinary Shares of the 
Company has been suspended with immediate effect. 
 
Further to the announcement on 18 June 2010, the Board has been looking at ways 
of repaying and/or converting the loan notes in issue, as well as additional 
financing for the business, but unfortunately the active discussions to secure 
the necessary funds have now terminated without agreement having been reached. 
The next interest payment on the loan notes, in the sum of approximately 
GBP600,000, is due at the end of June and, without any additional funding, the 
Company will be unable to make this payment. Accordingly, the Board is now 
exploring possible options for the Company, which include placing the Company 
into administration. 
 
A further announcement will be made in due course. 
 
                                    - Ends - 
 
 
For further information, please contact: 
+-----------------------------------+--------------------------+ 
| Proventec plc                     |                          | 
+-----------------------------------+--------------------------+ 
| David Chestnutt, Chief Executive  |    Tel: + 44 (0) 151 706 | 
|                                   |                     0626 | 
+-----------------------------------+--------------------------+ 
| dchestnutt@proventecplc.com       |     www.proventecplc.com | 
+-----------------------------------+--------------------------+ 
 
+-----------------------------------+--------------------------+ 
| Seymour Pierce Limited                                       | 
+--------------------------------------------------------------+ 
| Nicola Marrin                     |    Tel: + 44 (0) 20 7107 | 
|                                   |                     8000 | 
+-----------------------------------+--------------------------+ 
| Corporate Finance                 |   www.seymourpierce.com  | 
+-----------------------------------+--------------------------+ 
 
Media enquiries: 
+-----------------------------------+--------------------------+ 
| Abchurch Communications           |                          | 
+-----------------------------------+--------------------------+ 
| Henry Harrison-Topham / Hannah    |     Tel: +44 (0) 20 7398 | 
| Sharman                           |                     7702 | 
+-----------------------------------+--------------------------+ 
| hannah.sharman@abchurch-group.com |   www.abchurch-group.com | 
+-----------------------------------+--------------------------+ 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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