Wasabi Energy Limited Voluntary Suspension (1814W)
23 Dezembro 2013 - 5:00AM
UK Regulatory
TIDMWAS
RNS Number : 1814W
Wasabi Energy Limited
23 December 2013
23 December 2013
Wasabi Energy Limited
("Wasabi," "the Group" or "the Company")
Temporary Suspension
At the request of the Company, trading on AIM of ordinary shares
in Wasabi Energy Limited has been temporarily suspended, pending
clarification of the Company's financial position, from 7.30am on
23 December 2013.
The Company is completing a Non-renounceable Rights Issue and is
awaiting notification of the amount raised from its UK based
registrar as well as its Australian registrar. Current indications,
however, suggest that the Company will not have sufficient
acceptances of the rights to allow the Company to repay its secured
loan notes of a total value of AUD$8 million (including interest)
which are now due. The Directors will consider the final amount
raised under the Offer with regard to its financial obligations and
proposed use of funds as set out in the Offer Document and are
currently in discussions with the loan note holders regarding
repayment, with third parties to place any shortfall of the rights
issue and in relation to the Company's Tuzla project. There is no
guarantee that such discussions will be successful.
A further announcement will be made as soon as possible once the
Company has confirmed acceptances under the rights issue and,
following that, on discussions with loan note holders and third
parties and therefore have further clarity on the Company's
financial position.
The Directors have also requested a temporary suspension of
trading of its ordinary shares on the ASX, which will remain until
3 January 2014.
For further information contact
Australian Enquiries
Mr. John Byrne
Wasabi Energy Limited
Ph: +61 (0)3 9663 7132
U.K. Investor Enquiries
Beth McKiernan/ Ivonne Cantu / Neil McDonald
Cenkos Securities plc
Ph: +44 (0)207 397 8900 / +44 (0) 131 220 9778
U.K. Media Enquiries
Mr. Josh Royston / Ms. Hilary Millar
Newgate Threadneedle
Ph: +44 (0) 207 653 9850
This information is provided by RNS
The company news service from the London Stock Exchange
END
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