AssetCo PLC Statement re: claim against former auditors (2933J)
17 December 2015 - 12:55AM
UK Regulatory
TIDMASTO
RNS Number : 2933J
AssetCo PLC
16 December 2015
AssetCo plc
("AssetCo" or the "Group" or the "Company")
Company Update
Claim against former auditors
In the Company's Half-yearly financial report released on 19
June 2015, reference was made to its claim against former auditors
Grant Thornton. This was originally lodged under the Professional
Negligence Pre-action Protocol and subsequently led to a mediation
hearing which took place in October 2015. It is disappointing to
report that this mediation hearing was unsuccessful.
Therefore, the Company has today issued formal Court proceedings
against Grant Thornton in respect of negligent audits for the years
ended 30 September 2009 and 2010. Currently the claim losses for
these periods amount to GBP38.0m plus interest and costs to date of
GBP4.3m, making a current total of GBP42.3m.
The Company will continue to keep shareholders updated as
appropriate.
Tudor Davies, Executive Chairman
AssetCo plc
Ticker AIM: ASTO.L
London, Wednesday 16 December 2015
Enquiries:
Arden Partners plc
John Llewellyn-Lloyd/ Ciaran
Walsh
Tel:+44 (0) 20 7614 5900
TooleyStreet Communications
Fiona Tooley
Mobile: +44 (0) 7785 703
523
fiona@tooleystreet.com
AssetCo, is principally involved in the provision of management
and resources to the fire and emergency services in the Middle
East. For further details, visit the website, www.assetco.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
STRLLFEVFSLRLIE
(END) Dow Jones Newswires
December 16, 2015 08:55 ET (13:55 GMT)
Assetco (LSE:ASTO)
Historical Stock Chart
From Apr 2024 to May 2024
Assetco (LSE:ASTO)
Historical Stock Chart
From May 2023 to May 2024