Cientifica PLC Business Update (6314M)

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RNS Number : 6314M

Cientifica PLC

17 July 2014

Cientifica PLC

("Cientifica" or the "Company")

Business Update

Cientifica, the AIM-quoted investment company focused on investment in businesses making use of advanced materials, graphene and emerging technologies, announces the following business update.

Following completion of the company voluntary arrangement by CIentifica in late October 2013, the Company has focussed on implementing its investing strategy. As yet the Company has not implemented its investing strategy and has, pursuant to the AIM Rule 15 for Companies, until 25 October 2014 to fulfil its investing strategy.

The Board is conscious of the October deadline and the implications of not meeting the requirement. Shareholders are advised accordingly that the board is currently in advanced negotiations with regards to an investment which, should it proceed, would be the first step in successfully implementing the Company's investing strategy.

We expect to be able to announce to shareholders details of the investment shortly. The Company has sufficient cash resources to meet its existing liabilities but does not have material surplus cash to implement its investing strategy. The Board is currently in advanced discussions for the provision of a short term loan facility to secure the above investment opportunity and is reviewing formal offers on equity financing which would enable it to effect its overall investing strategy.

Further announcements will be made as appropriate.

Tim Harper, CEO of Cientifica PLC, stated:

"The Board is confident it can successfully execute the strategy stated above and within the timescale set out in Rule 15.

"We have been in discussion with a number of parties regarding investment and have strategies in place to achieve this.

"The application of graphene in commercial products remains a significant opportunity for the UK and we believe that we have the contacts in place to exploit it."

17 July 2014

For further information, please contact:

Cientifica PLC

   Tim Harper, Chief Executive                              [phone] 

Allenby Capital (Nominated Adviser)

   Nick Naylor/James Reeve                                  [phone] 

Peterhouse Corporate Finance (Broker)

   Lucy Williams / Heena Karani                          [phone] 

Lothbury Financial Services Limited

   Michael Padley / Gary Middleton                   [phone] 

This information is provided by RNS

The company news service from the London Stock Exchange

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