Stockcube PLC

October 10, 2008 08:27 ET


                                           Stockcube Plc
                        Cash on deposit with Kaupthing Singer & Friedlander

As  at 30 June 2008, the consolidated balance sheet of Stockcube Plc and its subsidiaries (set out
in  Stockcube  Plc's interim report 2008) showed cash and cash equivalents of £2.59m (the  "Cash")
and total assets less current liabilities of £2.54m.  Part of the Cash was held on one month fixed
deposit  with Kaupthing Singer & Friedlander ("KS&F"), which was placed into administration  on  8
October,  2008. Stockcube plc's deposit with KS&F which matured on the morning of 8 October,  2008
amounts  to £0.284m (approximately 10.9 per cent of cash and cash equivalents as at 30 June  2008)
and has not been repaid.

The  Company is in contact with the administrators of KS&F regarding these funds but so  far  they
have been unable to comment on their recoverability.

The Stockcube Group has no other accounts with Kaupthing Bank Hf or any of its subsidiaries.

The Company will make further announcements in due course

Shirley Yeoh             Finance Director         020 7352 4001
William Vandyk   Blue Oar Securities              020 7448 4400

Contact Information

  • Stockcube PLC