Cientifica PLC Business Update (6314M)
17 Julho 2014 - 10:00AM
UK Regulatory
TIDMCTFA
RNS Number : 6314M
Cientifica PLC
17 July 2014
Cientifica PLC
("Cientifica" or the "Company")
Business Update
Cientifica, the AIM-quoted investment company focused on
investment in businesses making use of advanced materials, graphene
and emerging technologies, announces the following business
update.
Following completion of the company voluntary arrangement by
CIentifica in late October 2013, the Company has focussed on
implementing its investing strategy. As yet the Company has not
implemented its investing strategy and has, pursuant to the AIM
Rule 15 for Companies, until 25 October 2014 to fulfil its
investing strategy.
The Board is conscious of the October deadline and the
implications of not meeting the requirement. Shareholders are
advised accordingly that the board is currently in advanced
negotiations with regards to an investment which, should it
proceed, would be the first step in successfully implementing the
Company's investing strategy.
We expect to be able to announce to shareholders details of the
investment shortly. The Company has sufficient cash resources to
meet its existing liabilities but does not have material surplus
cash to implement its investing strategy. The Board is currently in
advanced discussions for the provision of a short term loan
facility to secure the above investment opportunity and is
reviewing formal offers on equity financing which would enable it
to effect its overall investing strategy.
Further announcements will be made as appropriate.
Tim Harper, CEO of Cientifica PLC, stated:
"The Board is confident it can successfully execute the strategy
stated above and within the timescale set out in Rule 15.
"We have been in discussion with a number of parties regarding
investment and have strategies in place to achieve this.
"The application of graphene in commercial products remains a
significant opportunity for the UK and we believe that we have the
contacts in place to exploit it."
17 July 2014
For further information, please contact:
Cientifica PLC
Tim Harper, Chief Executive +44 (0) 207 518 4300
Allenby Capital (Nominated Adviser)
Nick Naylor/James Reeve +44 (0) 203 328 5656
Peterhouse Corporate Finance (Broker)
Lucy Williams / Heena Karani +44 (0) 207 469 0930
Lothbury Financial Services Limited
Michael Padley / Gary Middleton +44(0) 203 440 7620
This information is provided by RNS
The company news service from the London Stock Exchange
END
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