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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Erinaceous | LSE:ERG | London | Ordinary Share | GB0033838276 | ORD 0.5P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 1.65 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:2676S Erinaceous Group PLC 14 April 2008 Erinaceous Group Plc ("Erinaceous" or the "Company") Appointment of Administrator to the Company The Board of Erinaceous announces that it has today appointed administrators to the Company with immediate effect. Following the announcement on 14 January 2008, the Board has vigorously explored all of the available strategic options including the possibility of refinancing the Group's borrowings, options for sale and an equity raising. The Board has continued working with the Company's lenders with the objective of maximising the Group's value and keeping it as a going concern. Until very recently, the Board was hopeful that it would be successful in this aim. However, given the extent of the challenges facing the Group and the current state of the capital markets it has not been possible for the Group to reach an agreement with its lenders and other creditors and therefore the Board has now concluded, with regret, that it is necessary for the Company to file for administration. Consequently, the Board has today appointed James Tucker and Myles Halley, both partners of KPMG as administrators of the Company. The administrators of the Company expect to effect a sale of the Insurance division of the Group, Erinaceous Insurance Services Limited, to a company owned by the Company's lenders. The Residential Management division (Residential Management Group Limited and its subsidiaries) and Property Maintenance division (Erinaceous Property Maintenance Limited) also remain outside of any insolvency process and continue to trade as normal. 14 April 2008 For further information please contact College Hill +44 (0)20 7457 2020 Mark Garraway Anthony Parker This information is provided by RNS The company news service from the London Stock Exchange END MSCGUUGACUPRGGC
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