14 Nov 2014 12:00
14 November 2014
Eco City Vehicles PLC (in Administration)
("ECV" or "the Company")
Appointment of Nominated Adviser & Broker, update regarding the Company
and Directorate Change
The Company is pleased to announce the appointment of Allenby Capital Limited as Nominated Adviser & Broker with immediate effect.
As announced on 17 October 2014, Kirstie Jane Provan and Mark Robert Fry of Begbies Traynor (Central) LLP were appointed as joint administrators of the Company on 17 October 2014 pursuant to paragraph 22 of Schedule B1 of the Insolvency Act 1986 (the "Administrators"). The directors of the Company and the Administrators are working on a restructuring and refinancing proposal, and expect to announce further details within the next month.
The Company's shares will remain suspended from trading on AIM until the Company successfully exits administration and publishes its half year results for the six months to 30 June 2014. The Company has six months from the date of its shares being suspended from trading on AIM (19 September 2014) to exit suspension or its admission to trading will be cancelled.
The Company announces the resignation of Peter da Costa as a director of the Company with immediate effect.
Enquiries:
Eco City Vehicles plc (in administration)
Kirstie Provan, Joint Administrator +44 20 7516 1500
Allenby Capital (Nomad and Broker)
Nick Harriss/Nick Naylor +44 20 3328 5656