01 Oct 09

RNS Number : 0277A

Coolabi PLC

01 October 2009

Coolabi plc ('Coolabi' or 'the Company')

RE: TEMPORARY SUSPENSION OF TRADING ON AIM

The Board today announces that it is no longer in discussions with regard to the possible reverse takeover of the Company as announced on 8 April 2009. Accordingly, the Company has applied for the suspension over trading in its ordinary shares to be lifted with immediate effect. 

Costs of the transaction were closely managed and capped. These costs will be funded from the Company's existing resources and will be written off in the accounts for the 18 months to 31 December 2009. 

The Board is pleased to note the positive trading and developments reported in the Chairman's Statement in yesterday's Interim Announcement.

1 October 2009

Enquiries: 

Jeremy Banks, Chief Executive, Coolabi plc: T: 020 7258 7080 

Bobbie Hilliam, Evolution Securities Ltd: T: 020 7071 4300 

This information is provided by RNS

The company news service from the London Stock Exchange

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