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Statement re TVAC

18 Dec 2008 08:01

RNS Number : 3726K
AssetCo PLC
18 December 2008
 



18 December 2008

AssetCo plc

TVAC - The Vehicle Application Centre Limited ('TVAC') 

Placed into administration

AssetCo plc, (AIM : ASTO) the integrated support services business, announces that the Board has concluded it's strategic review of TVAC Ltd and due to continued losses there is no longer any prospect that TVAC, a wholly owned subsidiary, can operate as a going concern. Accordingly, it has been placed into administration today.

 

This action should have no material adverse affect on the financial performance of AssetCo plc.

The Joint Administrators are John Charles Reid and William Kenneth Dawson of Deloitte LLP, Saltire Court, 20 Castle Terrace, Edinburgh EH1 2DB

Enquiries: 

AssetCo

Tel: +44 (0) 20 8515 3999

Frank Flynn, Financial Director

James Collins, Investor Relations

RBS Hoare Govett Limited

Tel: +44 (0) 20 7678 8000

Stephen Bowler

John MacGowan

Richard Crichton

Pelham PR

Tel: +44 (0) 207743 76670

Alex Walters

Francesca Tuckett 

This information is provided by RNS
The company news service from the London Stock Exchange
 
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