Last checked at 19 Sep 2011 07:00
Adventis Group Plc ("ATG.L")
("Adventis" or the "Group")
Orderly wind down of Adventis Health
As a result of continuing losses incurred at Adventis Health, Adventis announces that following a strategic review, it has commenced an orderly wind down of the division's operations. It is expected that all 24 staff of Adventis Health will either be redeployed or made redundant on completion of their client projects over the next few months.
The orderly wind down will result in the impairment at the year-end of the remaining consolidation goodwill carried in respect of Adventis Health, amounting to approximately £1.0 million.
Further details will be set out in the Group's interim results that are scheduled to be released on 27 September 2011.
Enquiries:
Adventis Group Plc 01494 731600
Nick Winks, Chairman
Andrew Pearson, Finance Director
Arbuthnot Securities Limited 020 7012 2000
Tom Griffiths
Rebecca Gordon