Shieldtech plc ("Shieldtech" or "the Company")
Update
The Board of Shieldtech, the specialist provider of products and services to the Homeland Security market, today made the following statement:
“Further to the trading statement announced on 13 October 2008, the Company confirms that in the five months ended 30 November 2008 the Company has traded well and the Directors remain confident that sales in the current financial year ending 30 June 2009 will be substantially greater than those in the previous year and that the Company will return to profitability.
The Company is currently in discussions with its bankers, HSBC, and other parties concerning the injection of additional finance into the business. HSBC has agreed to extend the Company’s current working capital facility to enable these discussions to be completed.
Under the AIM Rules, a company that does not publish its Report and Accounts within 6 months of the year end will have its shares automatically suspended. The Directors expect that the Company will not be able to sign-off on the Company’s Report and Accounts for the year ended 30 June 2008 until the completion of a re-financing. Therefore, the Company is not in a position to publish its 2008 Report and Accounts by 31 December 2008 and therefore the Company has requested that trading in its shares be suspended from trading on the AIM market of the London Stock Exchange plc, pending publication of its Report and Accounts for the year ended 30 June 2008.”
Shieldtech plc
Tony O’Neill, Chief Executive Tel: 07774 698327
Seymour Pierce
Mark Percy / Nicola Marrin Tel: 020 7107 8000