We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Deepverge Plc | LSE:DVRG | London | Ordinary Share | GB00BMGWZY29 | ORD 0.1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.15 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMDVRG
RNS Number : 6943W
Deepverge PLC
13 December 2023
13 December 2023
DeepVerge plc
("DeepVerge" or "the Company" or "the Group")
Update
Introduction
The Board provides an update to shareholders.
Potential disposal of assets
Further to the previous notification on 14 September 2023, the Board has made progress with potential buyers of certain assets and intellectual property owned within the Modern Water and Labskin business units and hopes to be able to agree terms for the sale of these various assets during the next month.
Whilst there can be no certainty that current discussions will result in a transaction or transactions, it is now clear to the Board that even if both sets of assets are sold, at the values being discussed with potential buyers, insufficient value will be realised to avoid the closure or administration of the relevant Group subsidiaries.
DeepVerge plc
Further to the notification of 26 June 2023, DeepVerge plc, the holding company which neither trades nor has operating revenues, currently has around GBP0.3m of net liabilities. Given the situation referred to above, uncertainty remains as to whether the Company will have sufficient funds to pay its debts as they fall due.
Financial reporting
The Board does not expect the Company to be in a position to publish its report and accounts for the year to 31 December 2022, nor its interim results for the 6 months ended 30 June 2023, in time for the shares to be readmitted to trading on AIM before the end of 6 months since suspension on 26 June 2023.
Cancellation of Admission to trading on AIM
The cancellation of the admission of the Company's shares to trading on AIM ("Cancellation") is expected therefore to take place with effect from 7.00 a.m. on 27 December 2023.
Future of the Group's businesses
Given the circumstances set out above, the Board is working in contemplation of appointing administrators or a liquidator, as appropriate, to the Company and certain subsidiaries. It is engaged with relevant professionals to determine the most appropriate methods of winding up the Company's group businesses.
Further updates will be given as appropriate.
Nigel Burton, Interim DeepVerge plc CEO +44 (0) 7785 234447 SPARK Advisory Partners Limited +44 (0) 113 370 (Nominated Adviser) Neil Baldwin 8974 ----------------------- -------------------- Turner Pope Investments Andy Thacker/James +44 (0) 20 3657 (TPI) Limited (Broker) Pope 0050 ----------------------- --------------------
This announcement contains inside information as stipulated under the UK version of the Market Abuse Regulation No 596/2014 which is part of English Law by virtue of the European (Withdrawal) Act 2018, as amended. On publication of this announcement via a Regulatory Information Service, this information is considered to be in the public domain.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
END
UPDTJBFTMTJBBAJ
(END) Dow Jones Newswires
December 13, 2023 11:38 ET (16:38 GMT)
1 Year Deepverge Chart |
1 Month Deepverge Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions