RNS Number : 0688Y
01 December 2017
THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED BY THE COMPANY TO CONSTITUTE INSIDE INFORMATION AS STIPULATED UNDER THE EU MARKET ABUSE REGULATION (596/2014). UPON THE PUBLICATION OF THE ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.
("Torotrak" or the "Company")
Update on financial position
Torotrak plc, a developer and supplier of emissions reduction and fuel efficiency technology for vehicles, provides an update on its financial position. As announced on 28 November 2017, the Board has been trying to secure a refinancing of the Company to address its financial difficulties. Unfortunately, this has not proved possible. The Board is evaluating its remaining options. These include either trying to rapidly realise value from its assets by concluding sales of its technology, intellectual property and other assets to interested parties, including the potential sale of Flybrid Automotive Limited or appointing administrators.
The Company will make further announcements in due course.
Torotrak plc Adam Robson, Chief Executive / Rex Vevers, Finance Director Tel: +44 1772 900931 Cantor Fitzgerald Europe (Financial Adviser & Broker) Marc Milmo / Will Goode Tel: +44 20 7894 7000 Tavistock (Financial PR) Simon Hudson / James Collins Tel: +44 20 7920 3150
This information is provided by RNS
The company news service from the London Stock Exchange
(END) Dow Jones Newswires
December 01, 2017 02:01 ET (07:01 GMT)