Statement re Financial Position (0965D)

TIDMCDU

RNS Number : 0965D

CDU PLC

16 March 2011

CDU plc

("CDU" or the "Company")

Update on Financial Position

CDU announces that, further to its announcement on 9 March 2011 relating to the suspension of its shares from trading on AIM:

1. following in depth discussions with its bankers, the Directors believe it unlikely that CDU's present banking facilities (the "Banking Facilities") will be renewed beyond 31 March 2011 (being the date on which the Banking Facilities are due for renewal); and

2. it remains unable to comply with the AIM Rule requirement to dispatch its Annual Report and Accounts for the year ended 1 October 2010 (the "2010 Accounts") to shareholders by 30 March 2011.

Accordingly, CDU is now facing a period of financial uncertainty pending clarification of what actions its bankers will take if and when the Banking Facilities are not renewed and the effect of those actions on the Company's financial position.

The board are currently considering the options available and a further announcement will be made in due course.

In the meantime, the Company's shares will remain suspended from trading on AIM until such time as it files the 2010 Accounts and has clarified its financial position.

For further information, please contact:

 
 CDU plc 
  Stephen Thwaite      01538 399141 
 WH Ireland Limited 
  Dan Bate             0161 832 2174 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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