• Most Popular
  • Most Shared

Solar Integrated seeks buyer, in financing talks

Tue May 5, 2009 3:11am EDT

* Talks end on $25 mln credit line

* Existing loan extended to July

* Shares indicated down 29 pct at market open

LONDON, May 5 (Reuters) - London-listed solar roofing company Solar Integrated Technologies SIT.L said it was in talks with potential buyers and was looking at its financing options after ending talks on a $25 million credit line.

The $25 million facility was due to replace an existing loan from an affiliate of GE Energy Financial Services, the Los Angeles-based company said on Tuesday.

Solar Integrated said this loan had been extended further to July 3.

"There is no assurance that the company will be successful in further extending the facility, or in otherwise securing financing or a buyer for the company," Solar Integrated said in a statement.

Shares in the AIM-listed company, which have lost 85 percent of their value over the last year, closed on Friday at 15.5 pence and were indicated down 29 percent at market open on Tuesday. (Reporting by Victoria Bryan; Editing by Rosalba O'Brien)



More from Reuters

 Demonstrator holds a signboard with a slogan "Bla bla bla ACT NOW" during a rally outside the UN Climate Change Conference in Copenhagen December 12, 2009. REUTERS/Christian Charisius

"Polluters are given rights to continue their dirty habits"

A climate change scientist blasts proposals for a cap and trade system, arguing it allows dirty industries to continue polluting, instead of rewarding innovation.  Full Article | Full Coverage 

    People walk by a Bank of America branch in New York. REUTERS/Lucas Jackson

    The search is on -- again

    Bank of America has less than two weeks left before Chief Executive Ken Lewis steps down. With the top candidate out of the picture, here's a look at what might happen next.  Full Article 

    Indian woman mourns death of her relative killed in tsunami in Cuddalore. When an earthquake of magnitude 9.15 struck off Indonesia's Aceh province on December, 26, 2004, it triggered a huge tsuanmi that raced across the Indian Ocean and hit Indonesia, Thailand, Sri Lanka and India. The worst natural disaster of the decade left 230,000 people dead or missing. Taken on December 28, 2004 by Arko Datta

    Pictures that defined a decade

    A woman's grief amid the tsunami devastation and one woman's fight against police in the Amazon are among the indelible Reuters images of the last 10 years.  Slideshow