Funding Update (1712O)

TIDMACR

RNS Number : 1712O

Abbeycrest PLC

13 September 2011

Abbeycrest plc

("Abbeycrest" or the "Group")

Funding Update

The board of Abbeycrest provides the following update in respect of its recent discussions with Siam Commercial Bank ("SCB"), one of the Group's senior lenders.

Earlier today, SCB confirmed that it has approved revisions to the Group's existing facility arrangements. These revisions provide the Group with an additional 50 million Thai Baht (c.GBP1 million) of funding. The board believes that the Group now has sufficient facilities to trade through its peak working capital funding requirement expected in October 2011.

Simon Ashton, Executive Chairman of Abbeycrest, said: "Against a backdrop of continuing challenging conditions, including further recent increases in commodity prices, we welcome the additional support received from SCB. The board is also actively exploring the feasibility of other options to reduce the Group's exposure to commodity price fluctuations further still."

For further information, please contact:

 
 Abbeycrest plc                             Tel: +44 (0)113 397 
                                                           0867 
 Simon Ashton, Executive Chairman          www.abbeycrest.co.uk 
 
 Evolution Securities Limited               Tel: +44 (0)113 243 
                                                           1619 
 Joanne Lake/Peter Steel                  www.evosecurities.com 
 
 Rawlings Financial PR Limited             Tel: +44 (0)1653 618 
                                                            016 
 Catriona Valentine/Keeley Clarke   www.rawlingsfinancial.co.uk

This information is provided by RNS

The company news service from the London Stock Exchange

END

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