Statement re Share Price Movement

RNS Number : 7213C

Gas Turbine Efficiency PLC

10 March 2011

 



10 March 2011

Gas Turbine Efficiency plc

("GTE" or "the Company")

Statement re Share Price Movement

Further to recent share price movement, the Company announces that there have been no new developments since the Company announced on 1 March 2011 that it had entered into a restructuring agreement with its principal loan note holders.

Following the announcement, a circular was posted to shareholders setting out, amongst other things, the reasons for the restructuring and the reasons why the Directors consider this to be in the best interests of the Company, and its stakeholders as a whole, and why they are unanimously recommending that shareholders vote in favour of the resolutions to be proposed at the General Meeting to be held on 18 March 2011.

As stated in the announcement of 1 March 2011, if the proposed restructuring is completed, with a strengthened balance sheet, the Board believes the Company will be able to continue to explore strategic options including a sale of the Group while continuing to develop its business and operations.

For further information:

Gas Turbine Efficiency plc	John Grant (Executive Chairman) Steven Zwolinski (Chief Executive Officer)	[phone] [phone]
Matrix Corporate Capital LLP	Nick Ellis Stephen Mischler	[phone]
Financial Dynamics	Nina Delange	[phone]

 

END

 

 

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