G D Frost and J B Cartwright have been appointed as Joint Administrators of Isle of Shuna plc and Demlane Limited to manage their affairs, business and property as their agents. As such, they contract without personal liability. G D Frost and J B Cartwright are licensed in the United Kingdom to act as insolvency practitioners by the Institute of Chartered Accountants of Scotland.

Further Expansion

Isle of Shuna plc is delighted to announce the award of grant funding to its wholly owned subsidiary, Demlane Ltd, to accelerate business development.

Isle of Shuna has received a grant of up to £98,861 from Shetland Island Council, in addition to a processing and marketing grant of £131,815, which had previously been approved by the Scottish Executive, and £98,861 previously awarded by Shetland Enterprise.

These grants, together with resources from the company, will be used to extend Demlane's factory at Walls in Shetland. The extension, which will be completed in April 2007, will add 30% to the existing facility enabling its capacity for production of value-added mussel products as well as other Shetland-based developments in line with its strategy to increase.