Torotrak PLC Update on financial position

TIDMTRK

RNS Number : 0688Y

Torotrak PLC

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 plc

("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

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December 01, 2017 02:01 ET (07:01 GMT)