Creditor Update (7737D)
29 3월 2011 - 3:00PM
UK Regulatory
TIDMASTO
RNS Number : 7737D
AssetCo PLC
29 March 2011
29 March 2011
AssetCo plc ("AssetCo" or "the Company")
Creditor update
The Company announced on 3 March 2011 that a winding-up petition
had been presented by a substantial creditor in relation to an
outstanding payment obligation. Following completion of the placing
of new shares in the Company, raising GBP16 million and announced
on 22 March 2011, this substantial creditor has been fully paid and
has withdrawn from the petition. At the same hearing, we are
pleased to report that all the associated petitions against the
operating subsidiaries have been dismissed and AssetCo are raising
validation orders to pass the necessary cash into the operating
businesses to enable them trade normally. However another creditor
has been substituted at the recent hearing. The Board confirms that
the Company is able and in a position to make this payment but the
new management team are determined to ensure full process and
investigation is made of any calls for payment, so the hearing has
been adjourned for fuller determination.
Enquiries:
AssetCo plc +44 (0) 20 8515 3999
Tudor Davies
Arden Partners plc +44 (0) 20 7614 5917
Richard Day / Adrian Trimmings
This information is provided by RNS
The company news service from the London Stock Exchange
END
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