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Statement re TVAC

18 Dec 2008 08:01

RNS Number : 3726K
AssetCo PLC
18 December 2008
Β 

ο»Ώ

18Β December 2008

AssetCo plc

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

PlacedΒ intoΒ administration

AssetCo plc, (AIM : ASTO)Β the integrated support services business,Β announcesΒ thatΒ the Board has concluded it's strategic review of TVAC Ltd and due to continued lossesΒ thereΒ isΒ no longer any prospectΒ thatΒ TVAC, a wholly owned subsidiary, canΒ operate as a going concern. Accordingly, it has beenΒ placed intoΒ administrationΒ today.

Β 

This actionΒ should have no material adverse affect onΒ the financial performance of AssetCoΒ plc.

TheΒ JointΒ Administrators areΒ John Charles Reid andΒ William Kenneth DawsonΒ of Deloitte LLP, Saltire Court, 20 Castle Terrace, Edinburgh EH1 2DB

Enquiries:Β 

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 TuckettΒ 

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