Oakdene Shares Suspended

Trading in shares in Oakdene, the house builder, have been suspended by the Stock Exchange.

A brief statement issued by the company which reads: “On 30 September 2008, the company announced at its interim results that it was in breach of its covenants with its lenders and was relying on a temporary facility, but that discussions were ongoing with its lenders around its future banking terms...Since this date discussions have continued with the company's lenders.

“Unfortunately, the company has not been able to agree terms with its lenders and they have served notice on the company to repay the outstanding facilities...Accordingly, the company has requested a suspension of trading in its shares on AIM pending clarification of its financial position. A further announcement will be made as appropriate.”