ARX Aerobox

RNS Number:9954S
AeroBox plc
15 March 2007



15 March 2007


                      AeroBox plc ("ARX" or the "Company")

             Trading Statement and Cancellation of Admission to AIM

Following the announcements on 15 September 2006 and 24 January 2007 the
Directors of ARX have been unable to secure rescue financing or find an
appropriate company willing to effect a reverse takeover by allowing ARX to
purchase it. A major issue remains the viability of the US subsidiary company
AeroBox Composite Structures LLC ("ACS").

ACS is now protected under the provisions of Chapter 11 of the US Bankruptcy
Code where the intention is for the Court to oversee the disposal of ACS
sometime in the future. The Board considers that there is very little prospect
of any return to ARX from a subsequent sale of ACS, although this will only be
known with certainty following the sale of ACS, which may take up to a year.

ARX has minimal funds and substantial creditors that cannot be paid. In an
effort to make ARX attractive to any possible reverse target, discussions have
been taking place for the private purchase of these debts so that ARX can be
viewed as a solvent entity, which currently it is not. The Board will advise
shareholders on the outcome of those discussions and the convening of any
shareholder meeting in regard to any company reorganisation. Following the sale
of ACS the Board will know whether there are any funds that flow to ARX and will
notify shareholders of the position at that time. The likely outcome if no
business can be attracted to the ARX "shell" is that the Company will be wound
up.

Under the AIM rules, if a suspension of share trading prevails for 6 months then
trading on AIM is automatically cancelled. As trading in the Company's shares
has been suspended since 15 September 2006, the Company's listing on AIM will be
cancelled at the close of trading on 15 March 2007. Only if the Board can find a
suitable business to acquire or can suitably refinance the Company could they
consider restoring an AIM listing.

                                    - ends -

Enquiries:

Ray Gibbs, Group Managing Director, AeroBox plc        +44 20 7929 5599
Trevor Phillips, Holborn PR                            +44 20 7929 5599
Jeremy Porter, Seymour Pierce                          +44 20 7107 8000




                      This information is provided by RNS
            The company news service from the London Stock Exchange

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