LONDON (Thomson Financial) - D1 Oils Plc. said it expects to remain cash
positive through to the end of 2009, based on the net funds of 14.9 million
pounds raised through a placing.
The biofuels technology company also said its rate of cash expenditure is in
line with its expectations, and added gross cash on hand at June 30 was 22.2
million pounds and net cash was 19.9 million pounds.
The company said it is in the final stages of exiting the refining and
trading business in the United Kingdom, and that the closure of the
Middlesbrough and Bromborough sites is on track, and good progress is being made
in securing offers for the refining equipment, the sites and their associated
obligations.
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