Appointment of Administrator
2009年1月17日 - 1:49AM
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RNS Number : 8171L
Expomedia Group PLC
16 January 2009
16 January 2009
EXPOMEDIA GROUP PLC
(AIM:EXP)
("Expomedia" or "the Company")
Appointment of Administrators
The Board of Expomedia Group plc regrets to announce that, having carefully
considered the financial position and strategic options of the Company, on 16
January 2009 it appointed Paul Williams and Geoffrey Wayne Bouchier of MCR to
act as Administrators (the 'Administrators') of the Company with immediate
effect.
On 10 November 2008 the Company announced that it had seen a significant
reduction in its revenues. .Since the announcement the Board has vigorously
explored options to address the Company's working capital requirement. The Board
has been in discussions with a number of parties including potential equity
investors, existing shareholders, the Company's bankers and key creditors. Until
recently the directors were hopeful that funding would be secured. The Company
has been unable to secure the required funding and it is with regret that the
directors have decided today that the Company should be put into administration
and has appointed the Administrators.
=-ENDS--
Enquiries:
+----------------------------------------------------+----------------------+
| MCR Corporate Restructuring | 020 7487 7240 |
+----------------------------------------------------+----------------------+
| Paul Williams | expomedia@mcr.uk.com |
+----------------------------------------------------+----------------------+
| Geoffrey Bouchier | |
+----------------------------------------------------+----------------------+
| | |
+----------------------------------------------------+----------------------+
| Charles Stanley Securities | 020 7149 6000 |
+----------------------------------------------------+----------------------+
| Mark Taylor / Ben Johnston | |
+----------------------------------------------------+----------------------+
This information is provided by RNS
The company news service from the London Stock Exchange
END
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