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4 Sep 2013 15:06
4 September 2013
Flowgroup plc
(the "Company")
Statement regarding VPhase investment
Flowgroup plc (AIM: FLOW), which develops and commercialises alternative and efficient energy products, announces that VPhase PLC, in which Flowgroup holds 25.6% of the entire issued share capital, has today announced that it has appointed an Administrator.
The carrying value, being £2,571,000, of the Flowgroup interest in VPhase shares will be written down to zero for the purposes of the next published figures for Flowgroup.
The write-down will have no cash impact on Flowgroup and does not affect the financial stability or future prospects of the Company.
For further information please contact:
Flowgroup plc | www.flowgroup.uk.com |
Tony Stiff, Group Chief Executive Officer | Tel: +44 (0)151 348 2100 |
Cenkos Securities plc (NOMAD & Broker) | www.cenkos.com |
Stephen Keys / Adrian Hargrave (Corporate Finance / Nomad) Julian Morse (Sales) | Tel: +44 (0)20 7397 8900 |
Walbrook PR Ltd | Tel: +44 (0)20 7933 8780 |
Paul McManus (Media Relations) | paul.mcmanus@walbrookpr.com |
Paul Cornelius (Investor Relations) | paul.cornelius@walbrookpr.com |
Flowgroup (FLOW)
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