COC Cobra Cap

 

TIDMCOC 
 
RNS Number : 1923V 
Cobra Capital Limited 
06 July 2009 
 
 
 
COBRA CAPITAL LIMITED 
("Cobra" or "the Company") 
 
 
Update on suspension 
 
 
Cobra Capital Limited (AIM: COC), the small-cap investment company, announces 
that it remains in discussion with its bank and principal creditor (the "Bank") 
regarding the proposals Cobra has made to the Bank, which would allow the 
Company to continue to trade. However, due to the recent change in ownership and 
on-going re-structuring of the Bank the Company believes that it is unlikely to 
receive a response to its proposals before 13 August 2009. 
 
 
Cobra's shares have been suspended since 13 February 2009 and under the AIM 
Rules for Companies (the "AIM Rules") if the suspension continues for more than 
6 months the Company's listing will be cancelled.  The AIM Rules also required 
the Company to publish its annual audited accounts within 6 months of its year 
end.  The Company is not in a position to request a lifting of the current 
suspension of trading in its shares until it is able to reach agreement with the 
Bank and is able to publish its accounts, which were required to have been 
released under the AIM Rules by 30 June 2009 at the latest. 
 
 
Accordingly, the Directors advise Cobra shareholders that in the absence of a 
change of position by the Bank and the swift publication of its accounts it is 
likely that the Company's listing on AIM will be cancelled on 13 August 
2009.  In the meantime the Directors will continue to press the Bank for a 
response to their proposals. 
 
 
Jonathan Freeman, Director, said 
 
 
"It is extremely disappointing and frustrating that the change of ownership of 
our Bank and the inability of the Bank's new owners to take a decision on 
proposals that were previously agreed is likely to result in the cancellation of 
the Company's listing on AIM." 
 
 
Enquiries: 
 
 
Cobra Limited 
Jonathan Freeman020 7752 0215 
 
 
Finncap, Nominated Adviser 
Geoff Nash    020 7600 1658 
 
 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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