Hibu Appoints Deloitte As Administrators In Restructuring

LONDON (Alliance News) - Hibu PLC Wednesday said it has appointed Deloitte LLP to act as administrators as part of its ongoing restructuring.

The directories and internet services company said the previously announced restructuring will involve the group's operations being transferred from its current holding company to a new holding company.

The company said the appointment will move it further on the path towards achieving its restructuring but sought to provide assurance that this action will not impact the day to day operations of the rest of the group.

Following the appointment of Deloitte, the listing of Hibu's shares are expected to be cancelled with effect from November 28.

Hibu shares have been suspended at a price of 0.17 pence since July 24.

By Tom McIvor; tommcivor@alliancenews.com; @TomMcIvor1

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