The restructuring process is also expected to result in an additional charge of around $14m, which will be included in the 2011 financial result. This additional charge is not included in the guidance referred to above. The expected $30m loss includes a substantial non cash valuation loss for a foreign currency option.

The restructuring will be funded from existing cash reserves and working capital facilities. The Company’s current forecasts indicate that relevant financing covenants will continue to be complied with.

The Company will announce its full year results on August 25.

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