Further to the trading statement announced on 23 March 2009, Cobra announces today that it has been notified that the material contract that was placed on hold until the 30 June 2009 has now been terminated by the customer.
As announced previously the payments received under the variation and termination of the contract compensated Cobra for any immediate shortfall in revenue as a result of the contract being on hold and over the past three months Cobra has been actively seeking new customers to offset the longer term impact of this anticipated termination.
Cobra will announce its interim results for the half year ended 31 March 2009 by the 30 June 2009.
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