Dec 11 (Reuters) - Greatcell Solar Ltd GSL.AX :
* APPOINTS ADMINISTRATORS TO GREATCELL SOLAR GROUP OF COMPANIES AFTER UNSUCCESSFUL ATTEMPTS TO SECURE RE-FINANCING FOR ITS ACTIVITIES
* DECISION FOLLOWS A SERIES OF UNFORTUNATE AND UNWELCOME DEVELOPMENTS IN RECENT WEEKS
* GREATCELL SOLAR , GREATCELL SOLAR INDUSTRIES PTY LTD AND GREATCELL SOLAR AUSTRALIA PTY LTD WERE PLACED INTO VOLUNTARY ADMINISTRATION
* "WITH APPOINTMENT OF ADMINISTRATORS, BRI FERRIER, OUTLOOK FOR SHAREHOLDERS IS UNCERTAIN AT BEST'
* HAD BEEN SEEKING FUNDING FOR ITS MAJOR AREA DEMONSTRATION PROTOTYPE PROJECT, HAS NOT FOUND LONG-TERM EQUITY INVESTMENT
* SITUATION EXACERBATED BY POSITION OF SHAREHOLDER TASNEE WHICH SAID IT IS NOT IN FINANCIAL POSITION TO CONTRIBUTE TO CO'S ENDEAVOURS