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Eleksen BoD intends to appoint administrators to company
17 Oct '07
1 min read
The Board of Eleksen announces that it intends this morning to appoint administrators to the Company and has requested that trading in its ordinary shares be suspended with immediate effect.
On 28 August 2007, Eleksen released a trading statement and stated that the Company was in need of further funding. Subsequently, on 21 September 2007, Eleksen provided a further update in its interim results for six months to 30 June 2007.
The announcement made clear the pressing need for further funding, which might or might not be forthcoming, and also highlighted potential going concerns issues. Since this time the directors have vigorously explored the available options.
The directors have now concluded with regret that there are no proposals which offer sufficient certainty of raising additional funding within an acceptable timescale and therefore there is no alternative but to appoint administrators.
Consequently, the Company has requested that the London Stock Exchange plc suspend trading in its shares with immediate effect.
Eleksen Group plc - Robin Shephard, Chief Executive
Panmure Gordon - Andrew Godber
Cubitt Consulting - Michael Henman, Allison Reid
Eleksen's core technology, ElekTex, enables fabric to be programmed, creating touch sensitive controls for a wide range of electronic devices.
On 28 August 2007, Eleksen released a trading statement and stated that the Company was in need of further funding. Subsequently, on 21 September 2007, Eleksen provided a further update in its interim results for six months to 30 June 2007.
The announcement made clear the pressing need for further funding, which might or might not be forthcoming, and also highlighted potential going concerns issues. Since this time the directors have vigorously explored the available options.
The directors have now concluded with regret that there are no proposals which offer sufficient certainty of raising additional funding within an acceptable timescale and therefore there is no alternative but to appoint administrators.
Consequently, the Company has requested that the London Stock Exchange plc suspend trading in its shares with immediate effect.
Eleksen Group plc - Robin Shephard, Chief Executive
Panmure Gordon - Andrew Godber
Cubitt Consulting - Michael Henman, Allison Reid
Eleksen's core technology, ElekTex, enables fabric to be programmed, creating touch sensitive controls for a wide range of electronic devices.
Eleksen Group plc
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