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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Paros | LSE:PARO | London | Ordinary Share | GB00B0LMGR34 | ORD 0.1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.055 | 0.00 | 00:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
11 February 2008 ParOS plc ("ParOS" or the "Company") Trading Update On 27 September 2007 in the Chairman's statement, which accompanied the Interim Results for the period ended 30 June 2007, the directors announced that they were satisfied with the progress being made with the Group's strategy of focusing on commercialising technology to provide cost effective control for energy systems. In December 2007, the Company announced that it was to be granted a US patent for its technology, in addition to the European patent that was granted earlier in the same year. Despite the Company winning a limited number of small development contracts and being granted the patents mentioned above it has been unable to secure a major contract and, as a result, has not been able to reach a monthly break even cash position. During the last five months the Company has been involved in extensive discussions with potential investors with a view to them providing sufficient capital to enable the Company to pursue its stated strategy. However, despite the efforts of the Board, it has not been able to conclude these discussions and consequently the Board has initiated an immediate strategic review of the business. The review will consider various options in order to preserve the Company's remaining cash resources. The options being considered include, inter alia, the sale of, or cessation of trading by, Parametric Optimization Solutions Limited, the Company's trading subsidiary. While all available options are being considered the Company, will undertake an extensive cost reduction programme to minimise cash outflows. A further announcement will be made as soon as practicable. For Enquiries: ParOS plc Patrick McHugh Tel: 020 3008 8223 John East & Partners Limited (Nominated Adviser) Simon Clements/David Worlidge Tel: 020 7628 2200 Square1 Consulting Limited Mike Feltham Tel: 020 7929 5599 END
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