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PARO Paros

0.055
0.00 (0.00%)
08 Jan 2025 - Closed
Delayed by 15 minutes
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

Trading Statement

11/02/2008 1:23pm

UK Regulatory


    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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