Appointment of Administrator

 

TIDMCUS 
 
RNS Number : 0070R 
CustomVis plc 
12 August 2010 
 
                                                                  12 August 2010 
 
                                  CUSTOMVIS PLC 
                  ("CustomVis" or the "Company" or the "Group") 
 
                          Appointment of Administrator 
 
Further to the announcement made on 1 July 2010, the Company announces that it 
has appointed Nigel Hamilton-Smith and Michael William Young, both of FRP 
Advisory LLP of 49 London Road, St Albans, Hertfordshire AL1 1LJ as Joint 
Administrators to the Company. 
 
 The new Board had intended to relaunch the Company's products and re-engage 
with its customers.  However it has proved difficult for the Company to collect 
its debts from customers in various jurisdictions throughout the world with many 
customers withholding payment due to the Company. In addition, certain creditors 
of the Company have issued proceedings against the Company to recover debts 
owing and other creditors are threatening to do so. 
 
Taking all of this into account the Directors therefore considered it was in the 
best interests of the Company and its creditors to place the Company in 
administration. Dealings in the Company's shares were suspended on 19 April 2010 
and will continue to remain suspended.  A further announcement will be made in 
due course. 
 
                                     -ends- 
 
ENQUIRIES: 
 
+---------------------------------+---------------------------------+ 
| CustomVis plc                   |                                 | 
| John O'Hara, CEO                |                  [phone] | 
+---------------------------------+---------------------------------+ 
|                                 |                                 | 
+---------------------------------+---------------------------------+ 
| Merchant Securities Limited     |                                 | 
| David Worlidge                  |                   020 7628 2200 | 
+---------------------------------+---------------------------------+ 
|                                 |                                 | 
+---------------------------------+---------------------------------+ 
| Leander PR                      |                                 | 
| Christian Taylor-Wilkinson      |                   07795 168 157 | 
+---------------------------------+---------------------------------+ 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 APPUUASRROAWAAR