3 Nov 2015 14:15
Globo Plc (In Administration) ("the Company")
London - 03 November 2015 - On 3 November 2015, Chad Griffin, Simon Kirkhope and Lisa Rickelton of FTI Consulting LLP were appointed as Joint Administrators of Globo Plc, by order of the court.
The administration appointment was made following the disclosure of certain matters regarding the falsification of data and the misrepresentation of the Company's financial situation, as reported in various announcements since the shares were suspended on 23 October 2015.
Chad Griffin, one of the Joint Administrators said:
"Our focus is to undertake an immediate assessment of the Group in order to evaluate any opportunities to realise value from the various businesses. We will also be looking to gain control of the books and records in order to be in a position to undertake a full investigation. These steps will be done in close consultation with the requisite regulatory bodies."
No dividends are expected to be available for shareholders. The Joint Administrators will be applying in due course for the cancellation of the admission of the Company's shares to trading on AIM.
-ENDS-
Media Contacts:Lucinda Kemeny
+44 20 3727 1580
lucinda.kemeny@fticonsulting.com
Jess Gill
+44 20 3727 1195
jessica.gill@fticonsulting.com
About FTI Consulting
FTI Consulting, Inc. is a global business advisory firm dedicated to helping organisations protect and enhance enterprise value in an increasingly complex legal, regulatory and economic environment. With more than 4,400 employees located in 26 countries, FTI Consulting professionals work closely with clients to anticipate, illuminate and overcome complex business challenges in areas such as investigations, litigation, mergers and acquisitions, regulatory issues, reputation management, strategic communications and restructuring. The Company generated $1.76 billion in revenues during fiscal year 2014. For more information, visit www.fticonsulting.com and connect with us on Twitter (@FTI_EMEA) and LinkedIn.
About Globo PLC
Globo PLC is dedicated exclusively to helping clients create powerful mobile business applications. Globo offers a unique combination of world-class design, native application development, an award-winning mobile application development platform (MADP), enterprise mobility management (EMM) solutions, process excellence, and a passionate global workforce. Globo is a trusted mobility partner to the world's leading companies, including Coca-Cola, EMC, GE, ING, Intel, MIT, Procter & Gamble and hundreds of other clients worldwide. Globo is listed on LSE-AIM as GBO and OTCQX as GOBPY. For more information, please visit www.globoplc.com.
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