1Spatial Holdings Regulatory News (SPA)

20 Jun 2008 17:26



IQ Holdings plc

IQ Holdings plc (the "Company") announces, due to an administrative error, certain amendments to previously disclosed directors' details, as required under Rule 17 of the AIM Rules for Companies, in respect of Neil Grant McGowan. 

In addition to his directorship of the Company and the directorships and partnerships disclosed in the admission document relating to the acquisition of Rosslyn Research Limited, Neil McGowan has held the following directorships or been a partner in the following partnerships within the previous five years:

In addition to the disclosures set out in paragraph 9.3 of Part Eight of the admission document relating to the acquisition of Rosslyn Research Limited, set out below are details of any receiverships, compulsory liquidations, creditors' voluntary liquidations, administrations, company voluntary arrangements or any composition or arrangement with its creditors generally or any class of its creditors where Neil McGowan was director at the time or within the twelve months preceding such events:

Neil McGowan was a director of Shadowmaster Corporation Limited, being appointed on 25 November 1994. Subsequently the company entered a creditor voluntary liquidation on 30 October 1998. The directors' sworn statement of affairs showed an estimated deficiency as regards creditors of £26,943. The company was dissolved on 10 February 2000.

Neil McGowan was appointed a director of Rentaminster plc on 29 March 1990. Subsequently the company went into administrative receivership on 30 November 1992, and was dissolved on 25 January 2000.

Neil McGowan was appointed a director of Briarberry Limited on 18 June 1990. Subsequently the company went into administrative receivership on 30 November 1992, and was dissolved on 22 February 2000.

Neil McGowan was appointed a director of Sales Booster International Limited on 18 June 1990. Subsequently the company went into administrative receivership on 30 November 1992, and was dissolved on 21 December 1999.

Neil McGowan was appointed a director of Building Employment Services Limited, being appointed on 18 June 1990. Subsequently the company appointed a liquidator on 5 March 1993, and was dissolved on 13 February 1997.

Neil McGowan was appointed a director of Sales Control & Record Systems Limited on 18 June 1990. Subsequently the company appointed a liquidator on 6 July 1993, and was dissolved on 28 June 1995. 

The administrative reports of the Rentaminster plc group companies show estimated deficiencies2 as follows:-

1 Liabilities for Rentaminster plc, Briarberry Limited and Sales Booster International Limited include £4.7million owed to Scandinavian Bank under a composite guarantee and debenture against all the companies. When the companies are considered together, they have aggregate assets of £2.2million and aggregate liabilities of £9.5million giving an overall deficiency to creditors of £7.3million.

2 These figures have been calculated from the administrative reports which are available from Companies House.

Contacts:

Julian Green

IQ Holdings plc

Tel: 0208 099 0560

Fiona Kindness / Gerry Beaney

Grant Thornton UK LLP (Nomad)

Tel: 0207 7383 5100

Ian Callaway / Peter Manfield

SVS Securities plc (Broker)

Tel: 0207 638 5600