Nandan Cleantec plc Suspension from trading of securities on AIM (7111Z)

TIDMNAND

RNS Number : 7111Z

Nandan Cleantec plc

15 December 2014

Suspension from trading of securities on AIM

Nandan Cleantec plc (LSE AIM: NAND) ("Nandan" or the "Company"), a scaled vertically integrated biofuel producer, announces that, in line with the statements made at the time of the interim results, the Company has continued to experience significant restrictions around working capital availability. Although the directors have sought further financing to allow the Company to continue trading, such financing has not been forthcoming. It has therefore become evident that the only course of action available for the board is to place Nandan into administration. The board therefore intends to appoint Bijal Shah of RE10 and Paresh Shah of Parker Wood as Joint Administrators of Nandan pursuant to Schedule B1 of the Insolvency Act 1986.

In light of the above, the Company has requested suspension of the Company's shares from trading on AIM, pending clarification of its financial position with immediate effect.

Further announcements will be made in due course.

Enquiries:

 
For further information please contact: 
 
  Nandan Cleantec plc 
  Srinivas Prasad Moturi                    +91 40 6550 7799 
 
  Arden Partners plc 
  Steve Douglas                             +44 (0)20 7614 5917

This information is provided by RNS

The company news service from the London Stock Exchange

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