Result of Creditor Meetings

 

TIDMSTYL 
 
RNS Number : 2636N 
Stylo PLC 
13 February 2009 
 
13 February 2009 
 
 
Stylo plc ("Stylo" or the "Company") 
 
 
Result of Creditor Meetings 
 
 
On 26 January 2009, Neville Kahn, Daniel Butters and Lee Manning were appointed 
Joint Administrators of Stylo Barratt Shoes Limited, Stylo Barratt Properties 
Limited, Priceless Shoes Properties Limited, Barratts Shoes Properties Limited, 
and Comfort Shoes Limited (together "the Operating Companies") and now manage 
the affairs, business and property of the Operating Companies. 
 
 
Meetings of creditors of the Operating Companies were held yesterday to consider 
the company voluntary arrangements proposals to rescue the Operating Companies 
as going concerns (the "CVA proposals") that were proposed by the Joint 
Administrators. The Board is disappointed to report that the creditors and 
landlords did not approve the CVA proposals. 
 
 
As announced on 10 February 2009 the Board set out its intention to appoint 
Administrators of the Company if the creditor meetings did not result in 
approval of the CVA proposals, and accordingly Deloitte will be appointed as 
Joint Administrators of the Company as soon as possible. 
 
 
 
 
- ends - 
 
 
For further information, please contact: 
 
 
+-----------------------------------------+------------------------------------+ 
| Arbuthnot Securities Limited            | 020 7012 2000                      | 
+-----------------------------------------+------------------------------------+ 
| Katie Shelton / Nick Tulloch            |                                    | 
+-----------------------------------------+------------------------------------+ 
|                                         |                                    | 
+-----------------------------------------+------------------------------------+ 
| Smithfield Consultants                  | 020 7360 4900                      | 
+-----------------------------------------+------------------------------------+ 
| John Kiely / Andrew Wilde / Will        |                                    | 
| Henderson                               |                                    | 
+-----------------------------------------+------------------------------------+ 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
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