Suspension

RNS Number : 3620E

Silvermere Energy PLC

09 May 2013

 



9 May 2013

Silvermere Energy plc

 ("Silvermere" or the "Company")

Suspension of Trading

Silvermere announces that trading in the Ordinary Shares of the Company has been suspended with immediate effect, pending clarification of the Company's financial position.

The Company announced on 16 April 2013 that in the absence of a refinancing it was dependent on the support of its directors and creditors. In recent weeks the Board has pursued a number of different funding proposals but the Company has not been able to procure the necessary funding it requires. As such, given the uncertainty around the Company's short term working capital position, the Board has requested that trading in the Company's Ordinary Shares is suspended while it considers the next steps.

A further announcement will be made in due course.

Enquiries:

Silvermere Energy plc
Andy Morrison, Chief Executive	Tel:  [phone]
Sanlam Securities (Nominated Adviser and Joint Broker)
Lindsay Mair/Scott Mathieson/Catherine Miles	Tel: [phone]
Peterhouse Corporate Finance Limited (Joint Broker) Jon Levinson	Tel:  [phone]

 

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