Torotrak PLC Update on financial position

TIDMTRK

RNS Number : 4833Y

Torotrak PLC

05 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, announces that, further to the announcements on 28 November 2017 and 1 December 2017, the Board has received notification that Mr Jonathan Hilton and Mr Douglas Cross have filed an application for administration for Flybrid Automotive Limited. The application is listed for hearing on 15 December 2017.

The Board will be meeting with its administration advisers in the morning to consider if any value can be generated from its assets or whether the Company should to be put into administration.

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 05, 2017 12:43 ET (17:43 GMT)