Appointment of Administrators
24 March 2009 - 1:34AM
UK Regulatory
TIDMARGV
RNS Number : 3096P
Argentvive PLC
23 March 2009
ArgentVive plc
("ArgentVive" or the "Company")
Appointment of Administrators
On 30 September 2008 the Company announced that it requested a suspension of
trading of its shares on AIM, as the Group were unable to publish its Annual
Report and Accounts for the year ended 31 March 2008 by the 30 September 2008.
The Company has also announced that the Board has been seeking further
restructuring alternatives to secure the Company's future.
The Board of ArgentVive has exhaustively explored various refinancing
opportunities over recent months. However, having carefully considered the
financial position and prospects of the Company it has today appointed Paul
Appleton and Henry Lan of David Rubin & Partners to act as Administrators of the
Company. The Company will continue to work towards restructuring alternatives
for the business within the timeframes afforded to it under the administration
timetable.
The Company also announces that it has today been notified by Charles Stanley
Securities of its resignation as Nominated Adviser and Broker to the Company
with immediate effect.
In the event that an alternative Nominated Adviser is not appointed on or before
7.00 am on 23 April 2009 then, in accordance with Rule 1 of the AIM Rules for
Companies, the admission of the Company's ordinary shares to trading on AIM will
be cancelled.
Notwithstanding the need to appoint an alternative Nominated Adviser, if the
Company is unable to publish its Annual Report and Accounts for the year ended
31 March 2008 on or before 31 March 2009, the admission of the Company's
ordinary shares to trading on AIM will be cancelled at that date.
-ENDS-
23 March 2009
Enquiries:
+--------------------------------------------+--------------------------+
| David Rubin & Partners | Tel: 020 7400 7900 |
| Chartered Accountants and Licensed | |
| Insolvency Practitioners | |
| 26-28 Bedford Row | |
| London WC1R 4HE | |
| Contact: Paul Appleton | |
| | |
+--------------------------------------------+--------------------------+
| ArgentVive plc | Tel: 01932 569912 |
| Kevin Fleming | |
| | |
+--------------------------------------------+--------------------------+
| Charles Stanley Securities | Tel: 020 7149 6000 |
| Nominated Adviser | |
| Russell Cook / Carl Holmes | |
+--------------------------------------------+--------------------------+
This information is provided by RNS
The company news service from the London Stock Exchange
END
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