Andalas Energy & Power Regulatory News (ADL)

14 Sep 2006 16:08

AdVal Group PLC14 September 2006 14 September 2006 Further to the announcement made on 31 July 2006, the Board of AdVal Group plc ("AdVal") regret to announce that Root Capital LLP, acting as general partner for Root Capital Fund LP, ("Root"), has withdrawn its offer for the combined bespoke e-learning businesses carried out by AdVal Learning Solutions ("ALS") and Maxim. Discussions have also taken place with certain other interested parties, which have not led to a formal offer for ALS and Maxim. The sale referred to in the previous announcement of the generic product business previously carried out by Maxim has been completed. The negotiations for the sale of Livementor Ltd have been terminated and Livementor Ltd will be placed in liquidation. The Board of AdVal have concluded that, in the absence of a suitable offer for ALS and Maxim, the group has insufficient resources to continue to trade and has, therefore, appointed Martin Pickard of Mazars LLP as Administrator. This information is provided by RNS The company news service from the London Stock Exchange