LONDON (Thomson Financial) - Imagelinx Plc. said it has been granted
clearance by the Pensions Regulator to place its dormant subsidiary LTG
Gateshead Ltd. (LTGG) into a creditors voluntary arrangement, which will help
improve its balance sheet.
At Dec. 31, 2007, LTGG's pension scheme had assets of 14.1 million pounds
and liabilities of 19.2 million pounds, giving rise to a deficit of 5.1 million
pounds which was accrued on the consolidated balance sheet.
As a consequence of this arrangement, Imagelinx's full-year results will
record an exceptional gain of 4.7 million pounds, before expenses, and an
increase in net assets of the same amount.
The packaging graphics services company said it is confident to report an
improved performance in the first half against last year. It plans to announce
six months to end-June results in early September.
TFN.newsdesk@thomson.com
ypv/jfr
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