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:
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Silvermere Energy plc |
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Andy Morrison, Chief Executive |
Tel: 07980 878 561 |
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Sanlam Securities (Nominated Adviser and Joint Broker) |
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Lindsay Mair/Scott Mathieson/Catherine Miles |
Tel: 020 7628 2200 |
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Peterhouse Corporate Finance Limited (Joint Broker) Jon Levinson |
Tel: 020 7469 0937 |
This information is provided by RNS