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  • BY: Andrew Hore |
  • POSTED: 17/07/2008 |

Landsbanki has resigned as nominated adviser to FibreGen.

FibreGen shares will be suspended on 18 July and it will have one month to find a replacement. At 2.875p a share, FibreGen is valued at £610,000.

FibreGen is trying to finance the purchase of the outstanding 25% stake in its wood chip subsidiary Emerald Bio-Energy by selling other interests and unwinding former acquisitions. It also needs to do these things to ensure that it has enough working capital to keep running its remaining operations.

The share price is 98.5% lower than it was a year ago.

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