Manganese Bronze Hldgs PLC Notice of intention to appoint administrators (2155P)
October 22 2012 - 7:47AM
UK Regulatory
TIDMMNGS
RNS Number : 2155P
Manganese Bronze Hldgs PLC
22 October 2012
Manganese Bronze Holdings PLC
Notice of intention to appoint administrators
22 October 2012
Manganese Bronze Holdings PLC (the "Group"), the manufacturer of
the world famous London taxi, today announces that discussions with
various parties to secure funding on acceptable terms to address
the Group's financial needs have proved unsuccessful. The Board has
therefore concluded that the Group is no longer a going concern and
has filed notice of intention to appoint administrators.
A speedy resolution of the product recall announced on 12
October 2012 relating to the discovery of a steering box fault
remains the top priority for the Group and will continue to do so
throughout the administration process.
The Board remains hopeful that the fundamental strengths of the
company, the TX4 model and its global reputation will provide the
platform for a successful business in the future.
A further announcement will be made in due course.
For further information, please contact:
Manganese Bronze Holdings
PLC
John Russell, Group Tel: +44 (0) 24 7657 2108
Chief Executive
Peter Johansen, Group Tel: +44 (0) 24 7657 2214
Finance Director
FTI Consulting
Nick Hasell Tel: +44 (0) 20 7269 7291
Grant Thornton UK LLP
Philip Secrett/Melanie Tel: +44 (0) 20 7383 5100
Frean
This information is provided by RNS
The company news service from the London Stock Exchange
END
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