Engineering firm Cosalt told shareholders yesterday it was still trying to secure long-term funding.
The firm held its annual meeting yesterday in London and told investors it was still in talks with chairman David Ross, its pension trustees and banks. Only four shareholders attended.
Cosalt has still not published accounts for 2011, which led to the business suspending its shares last month. The company, which employs 250 people at its Aberdeen-based offshore division, has since had its shares removed from FTSE’s fledgling index.
Mr Ross has extended a £1million loan while the company finds a solution to its funding problems.