SHARES in beleaguered nuclear group British Energy slid another 14 per cent to just 18p in trading, valuing the company at just over £100m.

Previously, it was worth around £500m.

The group, which produces a fifth of the UK's electricity, is expected to ask for an extension to a Government loan in order to have more time to fight against bankruptcy, according to reports yesterday.

The firm secured the £410m Government loan last week after making a shock announcement that it faced insolvency.

The loan expires on September 27.

A report in yesterday's Financial Times said the group was expected to seek an extension for several months to allow more time for a longer term rescue.

The Government's expected options if British Energy misses the deadline is to extend the facility or withdraw it, meaning the firm would effectively go into administration.