13th Oct 2008 14:55
Icelandic Banks
In light of the uncertainty concerning deposits held with Icelandic banks we report that we currently have £5.7 million on deposit with Kaupthing Singer and Friedlander, Heritable Bank (Landsbanki) and Glitnir Bank. All of these amounts are due for repayment by 31 December 2008.
Notwithstanding these at risk deposits, we have further substantial funds available. The Board is therefore satisfied that any loss which may be incurred on these deposits will not have any impact on the ability of the group to finance its trading operations or its ongoing capital expenditure programme at William Lee.
B.J.Cooke, Chairman
Castings plc
Lichfield Road
Brownhills
West Midlands
WS8 6JZ
Related Shares:
Castings