ROM Romag

TIDMROM

RNS Number : 2462E

Romag Holdings PLC

04 April 2011

Romag Holdings PLC

("Romag" or the "Company")

Update re: Suspension of Trading

Appointment of Administrators

Sale of trade and assets

Resignation of Nominated Adviser

Following previous announcements regarding the suspension of the Company's shares, the Board is now providing an update.

Since the end of January 2011, the Company has been in discussions in an effort to secure additional funding and a restructuring of the Company's financing for the longer term. This has proved unsuccessful and, as a consequence, the Board announces today that partners from Deloitte LLP have been appointed as administrators of the Company and its subsidiary undertakings, Romag Limited and SHK Limited (the "Group") by the respective Boards of these companies.

Following the appointment of the administrators, the trade and assets of the Group have been sold to Ask the Genie Limited and Ask Genie Limited, two newly incorporated subsidiaries of Gentoo Group Limited, for a consideration which is not expected to result in any return to shareholders.

As a result of the above, Altium Capital Limited has today resigned as Nominated Adviser and Broker to Romag with immediate effect. Pursuant to AIM Rule 1, if a replacement Nominated Adviser is not appointed within one month the Exchange may cancel the admission of the Company's securities. Accordingly the potential cancellation time and date is 7.00am on 5(th) May 2011

Enquiries:

Deloitte Neil Matthews (Joint Administrator) Tel: +44 (0) 191 202 5408 Marielle Legair (media enquiries) Tel: +44 (0) 207 007 7320

This information is provided by RNS

The company news service from the London Stock Exchange

END

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