TIDMCVR

RNS Number : 3373J

Conviviality PLC

29 March 2018

29 March 2018

Conviviality Plc

("Conviviality", the "Company" or the "Group")

Notice of intention to appoint Administrators

Further to the announcement on 28 March 2018, and following discussions with its lending banks, the Board has resolved to file notice of intention to appoint administrators to the Company. Unless circumstances change, and in accordance with statutory requirements, the Board intend to appoint administrators within 10 business days. The secured creditors can, however, appoint administrators without the requirement for notice.

The Directors intend to allow the business to continue to trade and the Company continues to work alongside advisers in order to preserve as much value as possible for all stakeholders as it explores a number of inbound enquiries regarding a potential sale of all or parts of the business.

Further announcements will be made as appropriate.

Temporary Suspension of Trading on AIM

The shares of Conviviality Plc remain suspended pending further notice.

Enquiries:

 
 Investec (Nominated Adviser   Tel: 020 7597 5970 
  and Broker) 
  Garry Levin / David Flin 
  / Daniel Adams 
 FTI Consulting                Tel: 020 3727 1000 
  Jonathon Brill / Georgina 
  Goodhew / Fiona Walker

The information contained within this announcement is deemed by the Company to constitute inside information stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain. The person responsible for arranging release of this information on behalf of the Company is Ciaran Stone, Group Head of Legal & Company Secretary.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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(END) Dow Jones Newswires

March 29, 2018 02:02 ET (06:02 GMT)

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