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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
R8 Capital Investments Plc | LSE:MODE | London | Ordinary Share | GB00BKX8NT01 | ORD GBP0.01 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 2.25 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Finance Services | 1.08M | -6.41M | -0.0623 | -0.36 | 2.32M |
TIDMMODE
RNS Number : 9459S
Mode Global Holdings PLC
14 March 2023
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION
14 March 2023
Mode Global Holdings Plc
("MODE" or the " Group")
Mode subsidiary files for CVA
Following the announcement of 19th January 2023 regarding the unsuccessful funding, the Group has been winding down the operations of its Regulated subsidies, Fibermode Limited, Greyfoxx Limited and JGOO Limited. The Company's wholly owned subsidiary, Mode Global Limited which employed all staff and contracted for all operational costs on behalf of the trading companies, will not be able to recover the amounts due from the subsidiaries for the provision of these services. As a result, Mode Global Limit cannot pay its liabilities as they fall due.
Accordingly, the Board of Mode Global Limited has today requested that Antony Batty of Antony Batty & Company LLP acts as a Nominee of Company Voluntary Arrangement ("CVA") Proposals and file the Proposals in Court along with a Nominee's Report. Meetings of creditors to consider the CVA Proposals will be held on 5 April 2023. The Board of MGL will continue to engage with its creditors to ensure the process is as smooth as possible.
The Directors of Mode Global Holdings will continue to look for ways to extract value and seek out options for the future of the Group.
Enquiries:
Mode Global Holdings PLC info@modeapp.com Jonathan Rowland / Richard Morecroft
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END
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(END) Dow Jones Newswires
March 14, 2023 08:41 ET (12:41 GMT)
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