AER Aerte Grp

TIDMAER

RNS Number : 9428L

Aerte Group PLC

11 September 2012

AERTE GROUP PLC

(the "Company" or together with its subsidiaries the "Group")

Trading Update

The Group is continuing to generate interest in the Group's new range of air disinfection products. As well as internationally, there have been initial discussions with major distributors in the UK retail market from whom small initial orders have started to be received.

In this context, the Group is disappointed to have been informed by its potential Chinese distributor that it now wishes to cancel the previously announced order of 3,200 devices, manufactured and delivered by a member of their group in May 2012.

The Board has concluded that it will be difficult to recover payment for these devices in the medium term and is no longer expecting to receive further orders from this distributor. Discussions with other distributors, whilst positive, are at an early stage with volume orders yet to build. The Company is already in discussions with prospective funders regarding the provision of debt finance to the Group as well as exploring other options to raise additional capital. A further announcement will be made once these discussions have been completed.

Net cash as at 30 June 2012 was GBP0.7million.

For further information:

   Aerte Group PLC                                          Tel: +44 (0) 20 7603 1515 

Andrew Tonks, Chief Executive

   Panmure Gordon (UK) Limited                      Tel: +44 (0) 20 7886 2500 

Andrew Godber/ Adam Pollock

   Cardew Group                                                Tel: +44 (0) 20 7930 0777 

Tim Robertson / Georgina Hall

This information is provided by RNS

The company news service from the London Stock Exchange

END

TSTEAFNEFLEAEAF

Aerte Grp (LSE:AER)
Historical Stock Chart
From Oct 2024 to Nov 2024

Aerte Grp (LSE:AER)
Historical Stock Chart
From Nov 2023 to Nov 2024