ADVFN Logo

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Registration Strip Icon for charts Register for streaming realtime charts, analysis tools, and prices.

FRP Frp Advisory Group Plc

111.50
-0.50 (-0.45%)
Last Updated: 11:18:42
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Frp Advisory Group Plc LSE:FRP London Ordinary Share GB00BL9BW044 ORD 0.1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.50 -0.45% 111.50 111.00 112.00 112.00 111.50 112.00 222,759 11:18:42
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Business Consulting Svcs,nec 104M 12.7M 0.0506 22.13 281.04M

Fairpoint Group PLC Appointment of administrators (6871N)

10/08/2017 2:00pm

UK Regulatory


Frp Advisory (LSE:FRP)
Historical Stock Chart


From Mar 2019 to Mar 2024

Click Here for more Frp Advisory Charts.

TIDMFRP

RNS Number : 6871N

Fairpoint Group PLC

10 August 2017

10 August 2017

For immediate release

Fairpoint Group PLC

("Fairpoint" or the "Group")

Appointment of administrators, Directorate Change and Resignation of Nominated Adviser and Broker

Further to the announcement on 4 August 2017, Fairpoint announces that Sandy Kinninmonth, Lindsey Cooper and Gareth Harris of RSM Restructuring Advisory LLP have been appointed as joint administrators to Fairpoint Group plc.

The relevant business address of RSM Restructuring Advisory LLP is 3 Hardman Street, Manchester M20 3LD.

The Directors intend to continue to work with the administrators of Fairpoint Group Plc in order to try and preserve any remaining stakeholder value.

As a result of the appointment of administrators, David Broadbent, Chief Executive Officer, is to leave the Board with immediate effect. Furthermore, with mutual agreement by the Board, Shore Capital and Corporate Limited has resigned as Nominated Adviser and Shore Capital Stockbrokers Limited as Broker to the Company with immediate effect. Pursuant to AIM Rule 1, if a replacement Nominated Adviser is not appointed within one month, the admission of the Company's securities will be cancelled on AIM. The Company has no current intention of appointing a replacement Nominated Adviser.

The suspension to trading in the Company's shares on AIM as announced on 28 June 2017 remains effective.

However, Simpson Millar and its subsidiary companies, (the "Legal Businesses"), will continue to trade as going concerns through the dedicated funding line provided by Doorway Capital. The appointment of administrators to Fairpoint Group Plc will have no impact on the day to day running of these businesses. The client services that Simpson Millar provides and the protections its clients' enjoy are not in any way affected by the appointment of administrators to Fairpoint Group plc.

Today's announcement will have no material impact on the planned disposal of the IVA and Claims divisions to a third party, as previously announced on 4 August 2017.

For enquiries please contact:

 
 
 MHP Communications          fairpoint@mhpc.com 
 Reg Hoare                   020 3128 8794 
 Katie Hunt 
 
 
   Fairpoint Group Plc                          dkern@fairpoint.co.uk 
   Denise Kern                                        0161 876 1310 

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCGGUMARUPMGPU

(END) Dow Jones Newswires

August 10, 2017 09:00 ET (13:00 GMT)

1 Year Frp Advisory Chart

1 Year Frp Advisory Chart

1 Month Frp Advisory Chart

1 Month Frp Advisory Chart

Your Recent History

Delayed Upgrade Clock

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

Support: +44 (0) 203 8794 460 | support@advfn.com