Hazardous waste specialist Silverdell (SID), whose shares were suspended on 2 July pending clarification of the group's financial position, has confirmed that the suspension was triggered by the appointment of administrators at Kitsons Environmental Europe, one of the group's trading subsidiaries. All other parts of the group continue to trade as normal.
IC TIP:
Hold
at
12.75p
According to the latest accounts lodged with Companies House for the year to September 2012, Kitsons held £601,944 in cash, liabilities of £5.6m, and assets of £14.8m, giving a net worth of £9.73m. As for the rest of Silverdell, the group's bankers HSBC have reiterated their support for the group and will be providing additional short-term facilities.
