PYF Polyfuel Regs

 

TIDMPYF 
 
RNS Number : 3728X 
PolyFuel Inc. 
13 August 2009 
 

13 August 2009 
 
 
 
 
PolyFuel to cease operations 
 
 
The Board of PolyFuel has previously announced that it was exploring various 
strategic alternatives, including the possible sale of the Company or an orderly 
wind down of its operations. 
Unfortunately, notwithstanding extensive efforts during the past several months, 
the Board and its banker, KBC Peel Hunt have been unable to secure a 
satisfactory offer for the Company on a going concern basis.  Consequently 
PolyFuel will be ceasing operations immediately and the Board will be seeking 
shareholder approval for the dissolution of the Company and liquidation of its 
assets. 
As part of this process the Board will also be seeking approval to delist from 
AIM and the London Stock Exchange has agreed that trading of the Company's 
shares continue to be suspended pending the cancellation of the Company's AIM 
listing. 
A circular will be sent out in due course. 
Harry Fitzgibbons, a non-executive Director of PolyFuel since July 2005, has 
elected to resign from the Board at this time, with immediate effect. The Board 
would like to thank Harry for his support and advice over the past four years, 
and wishes him well for the future. 
 
 
End 
For further information, please contact: 
 
 
+----------------------------------------------+------------------------+ 
| PolyFuel, Inc                                | Tel: +1 650 429 4600   | 
+----------------------------------------------+------------------------+ 
| Jim Balcom, Chief Executive Officer          |                        | 
| Tom Caldwell, Chief Financial Officer        |                        | 
|                                              |                        | 
+----------------------------------------------+------------------------+ 
| Hogarth Partnership Limited                  | Tel: +44 (0)20 7357    | 
|                                              | 9477                   | 
+----------------------------------------------+------------------------+ 
| Nick Denton / Ian Payne                      |                        | 
|                                              |                        | 
+----------------------------------------------+------------------------+ 
| KBC Peel Hunt (Nominated Adviser and Broker) | Tel: +44 (0)20 7418    | 
|                                              | 8900                   | 
+----------------------------------------------+------------------------+ 
| Jonathan Marren / David Anderson             |                        | 
+----------------------------------------------+------------------------+ 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 MSCUOVVRKARWARR 
 

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