Appointment of administrators


 

TIDMVTS 
 
RNS Number : 4727O 
Vantis PLC 
29 June 2010 
 

 
 
+----------------------------+-------------------------------+ 
|                            |                  29 June 2010 | 
+----------------------------+-------------------------------+ 
 
 
 
 
 
 
VANTIS PLC 
                            ("Vantis" or "the Group") 
 
Appointment of Administrators 
                              Resignation of NOMAD 
 
 
The Board of Vantis announces that it has appointed administrators to the Group 
with immediate effect. 
 
The directors have vigorously explored every available option to reduce the 
level of debt in the Group.  However, given the lack of progress to date with 
these options and the Group's ongoing funding requirements, the Board has today 
appointed Chad Griffin and Simon Granger of FTI Consulting as Joint 
Administrators of the Group. 
 
The Board also announces that Investec Investment Banking has today resigned as 
the Group's NOMAD and accordingly, under Rule 1 of the AIM Rules for Companies, 
if the Group has not appointed a new NOMAD by 7.00 a.m. on 30 July 2010 the 
admission of the Group's ordinary shares to trading on AIM will be cancelled. 
The Board has no current intention to appoint a new NOMAD. 
 
 
Enquiries: 
 
+--------------------------------+--------------------------+ 
| Vantis plc                     |         +44 20 7417 0417 | 
+--------------------------------+--------------------------+ 
| Steve Smith                    |                          | 
+--------------------------------+--------------------------+ 
|                                |                          | 
+--------------------------------+--------------------------+ 
| Investec Investment Banking    |         +44 20 7597 5970 | 
+--------------------------------+--------------------------+ 
| Martin Smith                   |                          | 
+--------------------------------+--------------------------+ 
|                                |                          | 
+--------------------------------+--------------------------+ 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 APPEAXKNAEEEEFF

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