STEC Shieldtech

    RNS Number : 9462K
  Shieldtech PLC
  31 December 2008
   

    31st December 2008

    Shieldtech plc ("Shieldtech" or "the Company")

    Update


    The Board of Shieldtech, the specialist provider of products and services to the Homeland Security market, today made the following
statement:

    "Further to the trading statement announced on 13 October 2008, the Company confirms that in the five months ended 30 November 2008 the
Company has traded well and the Directors remain confident that sales in the current financial year ending 30 June 2009 will be
substantially greater than those in the previous year and that the Company will return to profitability.
      
    The Company is currently in discussions with its bankers, HSBC, and other parties concerning the injection of additional finance into
the business. HSBC has agreed to extend the Company's current working capital facility to enable these discussions to be completed. 

    Under the AIM Rules, a company that does not publish its Report and Accounts within 6 months of the year end will have its shares
automatically suspended. The Directors expect that the Company will not be able to sign-off on the Company's Report and Accounts for the
year ended 30 June 2008 until the completion of a re-financing.  Therefore, the Company is not in a position to publish its 2008 Report and
Accounts by 31 December 2008 and has requested that trading in its shares be suspended from trading on the AIM market of the London Stock
Exchange plc, pending publication of its Report and Accounts for the year ended 30 June 2008."



    For further information:

    
 Shieldtech plc                                      
 Tony O*Neill, Chief Executive      Tel: 07774 698327
                                                     
 SeymourPierce                                       
 Mark Percy / Nicola Marrin        Tel: 020 7107 8000
                                                     

    
 
    
    

This information is provided by RNS
The company news service from the London Stock Exchange
 
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