Year End Trading and Strategy Update

 

TIDMCSD 
 
RNS Number : 5162M 
ClearSpeed Technology plc 
30 January 2009 
 

ClearSpeed Technology plc 
 
 
Year end trading and strategy update 
29 January 2009.  ClearSpeed Technology plc ("ClearSpeed" or "the Group", AIM: 
CSD), is publishing an unaudited year end trading update for the 12 months ended 
31 December 2008 and an update on its strategy and cost base. 
 
 
ClearSpeed had revenue of GBP0.5m in the year ended 31 December 2008. The 
operating loss for the year is expected to be approximately GBP10.4m, despite 
the substantial cut in cost base implemented during the year.  Cash at the year 
end was GBP10.6m.  The Board intends to significantly reduce the cost base 
further following these disappointing results. 
 
 
As a result of this reduction in the Company's size and the status of its 
development, the Directors believe that it is no longer appropriate for 
ClearSpeed to remain as a quoted company. They are therefore considering a 
number of options including the return of surplus cash to its shareholders and 
cancelling the admission of its shares to trading on AIM. 
 
 
A further announcement will be made in due course. 
 
 
 
 
Enquiries: 
 
 
+-------------------------------------------------+----------------------+ 
| ClearSpeed Technology plc                       |        0117 317 2000 | 
+-------------------------------------------------+----------------------+ 
| Richard Farleigh, Chairman                      |                      | 
+-------------------------------------------------+----------------------+ 
|                                                 |                      | 
+-------------------------------------------------+----------------------+ 
| KBC Peel Hunt (Nominated Adviser and Broker)    |        020 7418 8900 | 
+-------------------------------------------------+----------------------+ 
| Oliver Scott / Richard Kauffer                  |                      | 
+-------------------------------------------------+----------------------+ 
|                                                 |                      | 
+-------------------------------------------------+----------------------+ 
| College Hill                                    |        020 7457 2020 | 
+-------------------------------------------------+----------------------+ 
| Adrian Duffield/Jon Davies                      |                      | 
+-------------------------------------------------+----------------------+ 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
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