Aerte Group PLC Funding Update (1729R)

TIDMAER

RNS Number : 1729R

Aerte Group PLC

15 November 2012

AERTE GROUP PLC

(the "Company" or together with its subsidiaries the "Group")

Funding Update

Further to the announcement dated 11 September 2012, the board has been in active discussions with prospective funders regarding the provision of additional finance to the Group. Despite its extensive efforts to explore the available options, discussions have now ended with two parties which it was hoped would provide further funding. The board will continue to pursue opportunities to secure the on-going trade of the business and recover value from the Group's assets, but unless a solution is forthcoming in the short term the Group will be unable to continue trading as a going concern. Net cash as at 31 October was GBP167,000. A further announcement will be made in due course.

15 November 2012

For further information:

   Aerte Group PLC                                    Tel: [phone] 

Andrew Tonks, Chief Executive

   Panmure Gordon (UK) Limited                   Tel: [phone] 

Andrew Godber/ Adam Pollock

This information is provided by RNS

The company news service from the London Stock Exchange

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