Appointment of Administrator
10 Janvier 2008 - 8:30AM
UK Regulatory
RNS Number:4657L
Orbis PLC
10 January 2008
Orbis Plc ("The Company")
Appointment of an administrator
In its announcement of 11 December 2007, the Directors of the Company stated
that it continued to be in discussions regarding the possible sale of the
Company and, separately, its financial restructuring. Further, it was stated
that the Board considered it unlikely that either of these options would produce
value for shareholders.
The Company is no longer in discussions which may lead to an offer for the
entire issued and to be issued share capital of the Company. In addition, it
has not been possible to achieve a financial restructuring.
As a consequence, the Directors have appointed Angela Swarbrick and Thomas
Merchant Burton of Ernst & Young LLP as Joint Administrators of the Company.
Accordingly, the Company has requested the London Stock Exchange to suspend
trading on AIM of the ordinary shares of 10p each in the Company with immediate
effect.
Enquiries:
Michael Holmes
Chief Executive Officer
01895 465 500
David Simpson
KPMG Corporate Finance - nominated adviser
020 7311 1000
KPMG Corporate Finance, a division of KPMG LLP which is authorised and regulated
by the Financial Services Authority for investment business activities, is
acting for the Company as nominated adviser in relation to the matters set out
in this announcement and is not acting for any other person in relation to these
matters. KPMG Corporate Finance will not be responsible to anyone other than
the Company for providing the protections afforded to its clients or for
providing advice in relation to the contents of this announcement.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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