ANTnano plc

December 03, 2009 11:10 ET

Suspension of Shares and Liquidation


It  is  with  great  regret  that  the Directors of Antnano plc ("ANTnano", or  "the  Company")  announces  the
suspension  of its shares on PLUS and that following a petition for the winding up of the Company  the  Company
has called a meeting of creditors for the 11th December 2009 to place the company in liquidation.

In  our  trading statement for the 9 months ended 31st July 2009, which we announced in August 2009, we  stated
that pipeline orders and firm contract negotiations look positive for the reminder of the year. Indeed that  is
still  the case. We have however, in the last week, found out about significant delays to manufacturing one  of
our new product lines, due to software issues, which will result in a delay of approximately six months.

As  a  consequence of the delays described above and in the absence of a further fundraising,  the  Company  is
experiencing a cash flow shortage which it cannot reverse in the short term.

The Company has in recent weeks spoken to its major shareholders and other potential financial sources about  a
possible  fundraising  to  fund  its  short  term working capital  requirements.  Unfortunately  this  proposed
fundraising was not fully successful. In addition one of the Company's creditors has petitioned for the Company
to be wound up. The Company is now in a situation where it is unable to pay its creditors. As a consequence the
Company  and its Directors have taken legal advice and explored its limited options. The result of this meeting
and  advice was that the Director's appear to have no option other than to call a meeting of creditors  with  a
view to placing the Company into liquidation.

The Directors of the Issuer accept responsibility for this announcement.

3 December 2009


Joe Arend, Chairman and CEO
AntNano Plc
Tel: 07785 992800

Jon Isaacs
Alfred Henry Corporate Finance Limited
Tel: 020 7251 3762

Contact Information

  • ANTnano plc