Thursday July 3, 10:35 AM
XL Tech suspended as loan talks falter
LONDON (ShareCast) - Trading in XL Tech shares was suspended shortly after the start of play Friday as talks over short term funding faltered. Shares in Tyratech, which is 46% owned by XL, were not suspended. TyraTech, a pesticide
company that listed on AIM last June, added that XL's stake in the firm is subject to an orderly market agreement until 1 June 2009. XL Tech asked for trading in its shares to be halted after a bridge financing deal was unexpectedly withdrawn by the funding party at the last minute. Discussions are continuing with this funding party and with other potential funding sources but XL said there can be no certainty on timing or that the negotiations will reach a satisfactory conclusion.
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