RDP Radicle Proj.

 

TIDMRDP 
 
RNS Number : 8051R 
Radicle Projects Plc 
27 August 2010 
 
27 August 2010 
                              Radicle Projects plc 
                      ("Radicle Projects" or the "Company") 
 
                                 Trading Update 
 
Radicle Projects, the AIM quoted UK company which owns and operates Australian 
agribusiness assets, has announced previously that the holders of the GBP15.1 
million Series A Convertible Loan Note ("Loan Note") had been approached with 
proposals to convert their Loan Notes into ordinary shares in the Company, and 
that the Company is considering the purchase of certain other Australian 
operating agricultural businesses. 
 
Following a Board meeting earlier today it was concluded that these proposals 
are now unlikely to proceed.  The Board is considering the options now available 
to it, including the possibility that the Board decides to place the Company 
into administration. 
 
A further announcement will be made shortly. 
 
Enquiries: 
 
+-------------------------------------------+----------------+ 
| Radicle Projects PLC                      |                | 
+-------------------------------------------+----------------+ 
| John McLennan                             | +61 (0) 3 8611 | 
|                                           | 6711           | 
+-------------------------------------------+----------------+ 
|                                           | 020 7016 5300  | 
+-------------------------------------------+----------------+ 
|                                           |                | 
+-------------------------------------------+----------------+ 
| Charles Stanley Securities                |                | 
+-------------------------------------------+----------------+ 
| Nominated Adviser                         |                | 
+-------------------------------------------+----------------+ 
| Russell Cook / Carl Holmes                | 020 7149 6000  | 
+-------------------------------------------+----------------+ 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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