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RNS Number : 2911W

Abbeycrest PLC

27 January 2012

 
 Press release   27 January 2012

Abbeycrest plc

("Abbeycrest" or the "Group")

Suspension of Shares

On 18 January 2012, the board of Abbeycrest announced that it was pursuing all options available to address the ongoing constraints on the Group's working capital. This included the proposed disposal of certain of the Group's assets within a short timeframe.

The board confirms that it was seeking to sell Abbeycrest Thailand Limited ("ATL"), one of the Group's main operating subsidiaries, to an overseas buyer. It is now clear to the board that there is no prospect of completing a sale of ATL within the time constraints imposed by Abbeycrest's funding position.

The UKLA has therefore, at the board's request, suspended trading of Abbeycrest's shares on the Main Market of the London Stock Exchange with immediate effect pending clarification of the Group's financial position.

A further announcement will be made in due course.

For further information, please contact:

 
 Abbeycrest plc                Tel: 01707 255 000 
  Simon Ashton, Executive    www.abbeycrest.co.uk 
  Chairman

This information is provided by RNS

The company news service from the London Stock Exchange

END

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