Final distribution announcement
At an extraordinary general meeting of the Company held on
30 April 2010, shareholders passed
resolutions to wind-up the Company and appointed Ashley Paxton and Steven
Stormonth of KPMG Channel Islands Limited as joint
liquidators (the “Liquidators”).
Following the commencement of the liquidation the Liquidators
approved an interim distribution of 91.3
pence per share (the “Interim Distribution”). The
Interim Distribution was paid to shareholders on Wednesday
2 June 2010.
During the initial phase of the liquidation the Liquidators
identified a potential contingent liability which has, until now
prevented the approval of a final liquidation distribution.
Following creditor circularisation and legal advice the Liquidators
are now satisfied that the previously identified contingent
liability will not crystallise and as such the Liquidators are
pleased to announce their intention to make a final liquidation
distribution (the “Final Distribution”) of:
GBP 0.031288 per Sterling Share in issue
The Final Distribution will be effected pro rata to the holdings
of Ordinary Shares on the register at the close of business on
2 July 2015 (the “Record Date”).
The Final distribution will be paid on 8 July 20015 (the
“Payment Date”). Payment will be made by way of Sterling
cheques drawn upon a UK clearing bank posted to the Shareholder’s
registered address as at the Record Date.
Please note that this is a final liquidation distribution.
As soon as reasonably practicable following the payment of the
Final Distribution the Liquidators will convene a final meeting of
the Shareholders and take the necessary steps to dissolve the
Company.
Enquiries:
The Liquidators
Ashley Paxton and Steven Stormonth
Tel: 01481 721000
Fax: 01481 722373
Email: restructuring-ci@kpmg.com