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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)



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