TIDMABM

RNS Number : 1642D

Albemarle & Bond Holdings PLC

25 March 2014

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR FROM, ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION.

25 MARCH 2014

Appointment of administrators & Resignation of Financial Advisor, Nominated Adviser and Broker

Further to the announcement made this morning, Albemarle & Bond Holdings plc confirms the appointment today of Michael John Andrew Jervis, Peter David Dickens, Toby Scott Underwood and Stuart David Maddison of PWC as joint administrators of Albemarle & Bond Holdings plc.

Following the announcement of the appointment of administrators to Albemarle & Bond Holdings plc, Canaccord Genuity Limited has today resigned as Financial Advisor, Nominated Adviser and Broker to the Company with immediate effect. If the Company fails to appoint a replacement nominated adviser within one month from today, the admission of its AIM securities will be cancelled.

A statement from the joint administrators is below:

"Our priority is to keep all pledged items safe and available for redemption as normal. We plan to sell all or part of the business to protect as many jobs as possible and we have already paid, or will be paying all staff - including accrued bonuses - as normal in March. Also, all landlords have been paid. However, some redundancies may be necessary depending on the outcome of efforts to sell the business. Every branch will initially remain open as sale discussions progress. This also enables customers to continue to redeem their goods as normal as they pay off their loans.

The group and PwC are doing all that they can to support employees through this difficult time and will work with government agencies in order to support anyone affected by potential redundancies."

For further information:

   PWC                                                      02075835000

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCEAKDSAFXLEFF

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