Contract Update

 

TIDMMOLE 
 
RNS Number : 5369S 
Molectra Group Ltd 
20 May 2009 
 

 
 
 
 
 
 
 
Molectra Group Ltd 
("Molectra" or "the Company") 
 
 
Non-performing contracts 
 
 
 
 
Molectra regrets to report the two value added product ('VAP') contracts 
previously announced; equine anti-cast products (March 2008) and automotive 
accessory products (June 2008) are now non-performing. Minimal revenue was 
generated from the contracts, although the Company has incurred significant 
operating and capital costs. Despite ongoing attempts to make the contracts 
commercial, a combination of contract-specific problems and global economic 
conditions has meant this has not been possible. 
 
 
As a result, Molectra currently has no material active contracts but is actively 
following new commercial opportunities for other VAP's within a variety of 
sectors in Australia. 
 
 
With a low annual cash consumption and cash in the bank, the Directors are 
comfortable that the Company currently has sufficient cash resources to cover 
its current requirements. Preliminary results for the year ended 31 December 
2008 will be announced in June 2009. 
 
 
 
 
Paul Gazzard, Chief Executive, commented: "The focus of the business has changed 
significantly from smaller niche products to more scaleable and sizeable 
potential projects, which we are actively working on. The Board has introduced 
new management which is committed to continue the commercialisation of Molectra. 
" 
 
 
For further information please contact: 
 
+-------------------------------------+-------------------------------------+ 
| Molectra Group Limited              | 01725 510 383                       | 
| Paul Gazzard                        | 020 7355 7660                       | 
| Rodger Sargent                      |                                     | 
|                                     |                                     | 
+-------------------------------------+-------------------------------------+ 
| Arbuthnot Securities Limited        | 020 7012 2000                       | 
| Antonio Bossi                       |                                     | 
| Hannah Pearce                       |                                     | 
|                                     |                                     | 
+-------------------------------------+-------------------------------------+ 
| Threadneedle Communications Ltd.    | 020 7653 9850                       | 
| Graham Herring                      |                                     | 
+-------------------------------------+-------------------------------------+ 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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