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21 May 2018 07:00
21 May 2018
UVENCO UK PLC ("Uvenco" or the "Company")
Further update
On 14 May 2018 the Company announced that it was in discussions with a third party that might have led to the sale of its trading subsidiaries, Uvenco Limited, the vending operator, and Snack in the Box Limited, the franchising operator, together with the assumption of a substantial proportion of the Company's debt obligations. The Company further announced that it would be likely that any consideration receivable by the Company would be minimal.
The Company has now been informed that the potential buyer is no longer considering buying those companies as going concerns. However, the Company has received, from the same potential buyer, an offer to acquire the assets of Uvenco Limited, Snack in the Box Limited and the Group's other trading subsidiary, Drinkmaster Limited, and an alternative offer to buy Drinkmaster Limited alone as a going concern.
The Board of the Company, advised by KPMG, are meeting to discuss the options available to it today and a further announcement will be made shortly.
For further information:
Uvenco UK PLC |
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Sergei Kornienko CEO | 020 8879 8300 |
Jeremy Hamer, Chairman
Stockdale Securities Limited |
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Tom Griffiths Richard Johnson | 020 7601 6100 |
The information contained within this Announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014.
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