DAV Davenham

TIDMDAV

RNS Number : 8220Z

Davenham Group PLC

20 January 2011

20 January 2011

Davenham Group plc

("Davenham" or the "Company" and, together with its subsidiaries, the "Group")

The Board announces that it is currently assessing with the Company's largest shareholder, Kingswood Property Finance, whether a reconstruction of the Group may be achievable, so as to permit one or more of Davenham's divisions to recommence writing new business both in the short term and thereafter. The Board wishes to emphasise that this assessment (which also encompasses a dialogue with certain members of the Group's Banking Syndicate) is at a very initial stage and may not necessarily lead to any firm proposals being put forward. This initial stage assessment also includes a review as to whether it may be possible to offer existing shareholders in the Company the opportunity to invest further funds in support of any such reconstruction.

The Board continues to consider that it is likely that there will be no value for shareholders' current shareholdings in Davenham (irrespective of whether a proposal for the reconstruction of Davenham is made by Kingswood Property Finance).

Further announcements will be made as appropriate.

- Ends -

For further information, please contact:

Davenham Group 0161 832 8484

Paul Burke, Group Managing Director

Hawkpoint Partners Limited (Nominated Adviser) 020 7665 4642

Lawrence Guthrie / Shaun Holmes

MHP Communications

Katie Hunt/Reg Hoare/Giles Robinson 020 3128 8100

This information is provided by RNS

The company news service from the London Stock Exchange

END

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