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Infonic warns on full-year results after contract delays

23rd Jan 2009, 12:36 pm

Infonic PLC said some contracts that were planned to be completed before the December 31 2008 financial year-end, have been delayed and it therefore expects results for the period to be significantly below market expectations.

In a trading update, the AIM-listed information management software provider said there is uncertainty as to the exact timing of these contracts’ conclusion.

Additionally, the company has some credit facilities which are expiring or payable during the first quarter of 2009. Infonic is seeking discussions with debt providers and shareholders to provide short term finance.
This statement followed the group’s request today for suspension of its shares on AIM.
A further update will be made in due course, Infonic added.

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