Appointment of Administrators

 

TIDMARGV 
 
RNS Number : 3096P 
Argentvive PLC 
23 March 2009 
 
 
 
ArgentVive plc 
("ArgentVive" or the "Company") 
 
 
Appointment of Administrators 
 
 
 
 
On 30 September 2008 the Company announced that it requested a suspension of 
trading of its shares on AIM, as the Group were unable to publish its Annual 
Report and Accounts for the year ended 31 March 2008 by the 30 September 2008. 
The Company has also announced that the Board has been seeking further 
restructuring alternatives to secure the Company's future. 
 
 
The Board of ArgentVive has exhaustively explored various refinancing 
opportunities over recent months. However, having carefully considered the 
financial position and prospects of the Company it has today appointed Paul 
Appleton and Henry Lan of David Rubin & Partners to act as Administrators of the 
Company.  The Company will continue to work towards restructuring alternatives 
for the business within the timeframes afforded to it under the administration 
timetable. 
 
 
The Company also announces that it has today been notified by Charles Stanley 
Securities of its resignation as Nominated Adviser and Broker to the Company 
with immediate effect. 
 
 
In the event that an alternative Nominated Adviser is not appointed on or before 
7.00 am on 23 April 2009 then, in accordance with Rule 1 of the AIM Rules for 
Companies, the admission of the Company's ordinary shares to trading on AIM will 
be cancelled. 
 
 
Notwithstanding the need to appoint an alternative Nominated Adviser, if the 
Company is unable to publish its Annual Report and Accounts for the year ended 
31 March 2008 on or before 31 March 2009, the admission of the Company's 
ordinary shares to trading on AIM will be cancelled at that date. 
 
 
 
 
-ENDS- 
 
 
23 March 2009 
 
 
Enquiries: 
 
 
+--------------------------------------------+--------------------------+ 
| David Rubin & Partners                     |       Tel: [phone] | 
| Chartered Accountants and Licensed         |                          | 
| Insolvency Practitioners                   |                          | 
| 26-28 Bedford Row                          |                          | 
| London WC1R 4HE                            |                          | 
| Contact: Paul Appleton                     |                          | 
|                                            |                          | 
+--------------------------------------------+--------------------------+ 
| ArgentVive plc                             |        Tel: [phone] | 
| Kevin Fleming                              |                          | 
|                                            |                          | 
+--------------------------------------------+--------------------------+ 
| Charles Stanley Securities                 |       Tel: [phone] | 
| Nominated Adviser                          |                          | 
| Russell Cook / Carl Holmes                 |                          | 
+--------------------------------------------+--------------------------+ 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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