Candover Investments Gains Shareholder Approval To Enter Liquidation

LONDON (Alliance News) - Candover Investments PLC said on Thursday it has passed the resolution required for the private equity firm to enter members voluntary liquidation.

Following unanimous shareholder approval, Neil Hyslop and Patrick Joseph Brazzill of Ernst & Young LLP have been appointed as Candover's liquidators.

The private equity firm said in early April that its portfolio was in run-off since late 2010. Candover has now disposed of the majority of its investments, enabling the repayment of all of its debts.

The company believes that the most appropriate method of returning value to shareholders is through a members' voluntary liquidation.

Candover Investments has applied to cancel its shares from the London Stock Exchange at the end of May.

Trading in the company's shares is suspended. They were last quoted at 115.50 pence.