MIL.L Regulatory News (MIL)

4 Jul 2006 15:22

Millfield Group PLC04 July 2006 Millfield Group plc Sale of Businesses: Appointment of Administrators - Completion of sale Millfield Group plc ("Millfield") announces that the sale of the business andassets of Millfield Partnership Limited ("MPL") and of the share capital of SageFinancial Services Limited ("Sage") to Bates Investment Services Limited and itsparent company, The Money Portal Plc, has been completed under the binding headsof agreement announced on 26 June 2006. The Financial Services Authority hasapproved the change of control of Sage. Details of former MPL advisers who havetransferred to Bates Investment Services Limited will be on the FSA websitewithin the next 24 hours. Michael Jervis and Dan Schwarzmann of PricewaterhouseCoopers (Tel: 020 75835000) have been appointed as Administrators of a number of Millfield'ssubsidiaries and are expected to be appointed in respect of Millfield itselfwithin a few days. It is not anticipated that there will be any return ofcapital to shareholders. Contacts: Millfield Group Plc Alan Easter 020 8604 2600Financial Dynamics Louise Dolan / Andrew Waterworth 020 7269 7192/ 07771 740 484 This information is provided by RNS The company news service from the London Stock Exchange