Further re financial position

10 Nov 2008 18:21

10 November 2008

MARCHPOLE HOLDINGS PLC (in administrative receivership)

("Marchpole", the "Company" or the "Group")

Update on financial position 

The Board of Marchpole wishes to announce that, following suspension on 4 November 2008 of the Company’s listing by the FSA and trading in the Company’s shares on the London Stock Exchange pending clarification of the Group’s financial position, Marchpole has been placed in administrative receivership today. Martin Ellis and Andrew Hosking, partners in Grant Thornton UK LLP have been appointed administrative receivers of Marchpole and the Board has been informed, are now seeking purchasers of the operating companies as trading businesses in cooperation with key stakeholders. A further announcement will be made in due course.