DeepVerge receives interest for potential sale of business units

(Alliance News) - DeepVerge PLC on Thursday said it has launched a new website and is still mulling the sale of its Labskin and Modern Water business units.

The Dublin-based environmental and life sciences firm said it has launched a new website, until it is able to regain control of its original site.

It said that the former management and consultants who controlled its original website and other domains and IT infrastructure have not handed control to the company, resulting in the company and other websites becoming unavailable.

In August, DeepVerge said it had sold Cork, Ireland-based Glanaco Ltd to its previous owners Tony Ryan and Michael Fitzgerald.

On Thursday, it said that it continues to explore the best way to realise whatever value is possible through the sale of one or more of the Labskin and Modern Water business units.

DeepVerge said it has received several approaches for the potential sale of the units, with multiple indications of interest for certain parts of the business.

"Whilst this is encouraging, all these approaches are at an early stage, and there can be no certainty that any of them will result in a transaction, or that sufficient value will be realised to avoid the closure or administration of the relevant group subsidiaries," DeepVerge added.

DeepVerge shares were removed from trading on AIM in August.

By Sophie Rose, Alliance News reporter

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