Suspension of operations

    RNS Number : 5835V
  Silverjet PLC
  30 May 2008
   

    30 May 2008 

    Silverjet plc (" Silverjet")

    Suspension of operations

    Silverjet announced on 23 May 2008 that it had yet to receive the proceeds of the US$5.0 million drawdown request made under its loan
facility with Viceroy Holdings LLC ("Viceroy"). It also announced that its working capital reserves were limited and that advances under the
loan facility were required as a matter of urgency. Silverjet has not received any further sums from Viceroy. 

    Silverjet continues to be in discussions with investors interested in supporting the business of Silverjet, however it has yet to
conclude such discussions to its satisfaction.

    It is with deep regret that the Board of Silverjet has therefore decided that it must suspend operations with immediate effect. The last
service of Silverjet was the flight from Dubai to London Luton, which departed at 7.30 am (BST) this morning.

    A further announcement will be made shortly.

    Advice for customers  

    Information for customers is available on Silverjet's website, www.flysilverjet.com.

    Customers should seek refunds of unused segments of tickets from the point of purchase (ie credit card or travel agency).



    - ends -


    For further information, please contact:

 Silverjet                       020 7357 9477
 Lawrence Hunt, Chief Executive

 Hogarth Partnership Limited     020 7357 9477
 Fiona Noblet
 Sarah Richardson

 Arden Partners                  020 7398 1638
 Chris Fielding
 Tom Fyson



This information is provided by RNS
The company news service from the London Stock Exchange
 
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