26th Feb 2009 08:13
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ALBIDON LIMITED |
Level 1 |
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62 Colin St |
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West Perth AUSTRALIA ARBN 107 288 755 Tel:+6189211 4600 Fax: +6189211 4699 Email:[email protected] ASX Code: ALB AIM Code: ALD |
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26 February 2009
Suspension in Trading
Albidon Limited (the "Company") wishes to advise that the US$26 million funding package announced on 30 January 2009 is unlikely to proceed and that the Company is at an advanced stage of negotiating an alternative fund raising proposal necessary for the Company to continue as a going concern. The structure and terms of any such transaction are yet to be agreed and the Company is therefore unable to provide further details at present but will do so as soon as such matters are clarified.
Trading in its ordinary shares on the AIM market will be suspended from the commencement of trade today whilst it seeks to agree the fund raising.
Trading in the Company's shares was also halted on the Australian Stock Exchange from the opening of that market tomorrow (27 February 2009). Trading in the Company's shares is expected to resume on both AIM and ASX on the basis a suitable funding can be agreed and subsequent to the announcement of such a transaction.
Yours faithfully
Len Troncone
Company Secretary
If you have any queries, please contact either Paul Chapman or Alasdair Cooke, Joint Managing Directors, on +61 8 9211 4600.
Additional information may also be viewed on Albidon's website at www.albidon.com.
Albidon's nominated adviser is RFC Corporate Finance Ltd, contact Stephen Allen +61 8 9480 2500.
Related Shares:
ALD.L