SIL Silverjet

    RNS Number : 1465V
  Silverjet PLC
  23 May 2008
   
    23 May 2008                                                        Silverjet plc    

    Working capital update 

    On 6 May 2008, Silverjet announced that on 2 May 2008 Silverjet Aviation Limited ("Silverjet Aviation"), a wholly owned subsidiary of
Silverjet, had entered into a £8.4 million loan facility agreement (the "Loan Facility") and that Silverjet had entered into a proposed
£4.3 million subscription agreement with Viceroy Holdings LLC ("Viceroy"). On 2 May 2008, Silverjet Aviation served a notice under the Loan
Facility to drawdown approximately US$5.0 million.

    Silverjet has yet to receive the full drawdown.  

    As announced on 30 April 2008, Silverjet's working capital reserves are limited and advances under the Loan Facility are required as a
matter of urgency.

    In the circumstances, Silverjet has requested, and the London Stock Exchange has confirmed, an immediate suspension in the trading of
the ordinary shares of the Company on the AIM market of the London Stock Exchange.  

    Silverjet continues discussions with other parties, which have confirmed an interest in investing in the Company.

    In the meantime, Silverjet's services continue as scheduled.


    - ends -


    For further information, please contact:

 Silverjet                       020 7357 9477
 Lawrence Hunt, Chief Executive

 Hogarth Partnership Limited     020 7357 9477
 Fiona Noblet
 Sarah Richardson

 Arden Partners                  020 7398 1638
 Chris Fielding
 Tom Fyson


This information is provided by RNS
The company news service from the London Stock Exchange
 
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