Business
Statement re Icelandic banks
Statement re Icelandic banks.
About this update from Castings Public Limited Company
[{"type":"text","content":"\n RNS Number : 7197F Castings PLC 13 October 2008 \n \nIcelandic Banks\n\nIn light of the uncertainty concerning deposits held with Icelandic banks we report that we currently have £5.7 million on deposit with Kaupthing Singer and Friedlander, Heritable Bank (Landsbanki) and Glitnir Bank. All of these amounts are due for repayment by 31 December 2008.\n\nNotwithstanding these at risk deposits, we have further substantial funds available. The Board is therefore satisfied that any loss which may be incurred on these deposits will not have any impact on the ability of the group to finance its trading operations or its ongoing capital expenditure programme at William Lee.\n\n\nB.J.Cooke, Chairman\nCastings plc\nLichfield Road\nBrownhills\nWest Midlands\nWS8 6JZ\nThis information is provided by RNSThe company news service from the London Stock Exchange END STRMJBJTMMABBTP \n ","length":1721,"tagName":"div"}]