SID Silverdell

 

TIDMSID 
 
RNS Number : 4138O 
Silverdell PLC 
05 March 2009 
 

Silverdell Plc 
(the "Company" or "Silverdell") 
 
 
Update to Shareholders 
 
 
 
 
 
 
Further to the announcement on 10 February 2009, the Company wishes to report 
that whilst it continues to generate revenues broadly in line with the 
corresponding period in the previous financial year, its banking facilities with 
Barclays Bank are currently being negotiated to reflect the present economic 
climate, as future levels of profitability are hard to predict. Whilst the 
Company has no reason to believe that the bank does not remain supportive of 
Silverdell, it is currently anticipated that, as part of these discussions, 
there will be a reduction in the facilities drawn down. The Company is therefore 
in discussions with its largest shareholder about the raising of additional 
equity from shareholders. 
 
As also announced on 10 February 2009, the Company is due to report its final 
results for the year to 30 September 2008 before the end of March, at which time 
it will also seek to provide further details of any equity fund raise together 
with guidance on the trading outlook. 
 
 
 
 
Contact: 
 
 
Collins Stewart Europe Limited (Nomad) 
Hugh Field/Piers Coombs 
Tel: +44 (0)20 7523 8350 
 
 
 
 
 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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