Appointment of Administrators
November 02 2009 - 8:10AM
UK Regulatory
TIDMASG
RNS Number : 7801B
ASG Media PLC
02 November 2009
02 November 2009
ASG Media PLC ("ASG" or "the Company")
(AIM:ASG)
Appointment of Administrators
The Board of ASG Group plc regrets to announce that, having carefully considered
the financial position and strategic options of the Company, on 02 November 2009
it appointed Antony Batty and Stephen Evans of Antony Batty & Company LLP to act
as Joint Administrators of the Company with immediate effect.
Since the announcement of suspension on 20 October 2009 the Board has continued
to explore options to address the Company's working capital requirement. The
Board has continued discussions with a number of parties including potential
equity investors and existing shareholders up until last night. Until it became
clear that further funding would not be forthcoming the directors were hopeful
that funding would be secured.
Furthermore the Board announces that Charles Stanley Securities ("Charles
Stanley"), the Company's nominated adviser for the purposes of the AIM Rules for
Companies ("AIM Rules"), has tendered its resignation as the Company's Nominated
Adviser and Broker, with immediate effect.
If ASG has failed to appoint a replacement Nominated Adviser by 03 December
2009, the admission of the Company's shares to trading on AIM will be cancelled
in accordance with Rule 1 of the AIM Rules.
Enquiries:
+-------------------------------------------+----------------------------+
| Antony Batty & Company LLP | 020 7831 1234 |
| Administrators | |
| Antony Batty | |
| Stephen Evans | |
| | |
+-------------------------------------------+----------------------------+
| ASG Media plc | 020 7902 2345 |
| Jamie Ball, Managing Director | |
| Gary Truman, Finance Director | |
| | |
+-------------------------------------------+----------------------------+
| Charles Stanley Securities | 020 7149 6000 |
| Nominated Adviser | |
| Russell Cook / Freddy Crossley | |
| | |
+-------------------------------------------+----------------------------+
This information is provided by RNS
The company news service from the London Stock Exchange
END
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