Sale of assets

    RNS Number : 9707W
  SubSea Resources PLC
  18 June 2008
   


    Subsea Resources PLC 

    Sale of assets
    
 
    C P Holder and A P Beveridge, the Joint Administrators of SubSea Resources PLC (In
    Administration) (''SubSea'') and Comex Deep Sea Salvage Limited (In Administration) (''Comex'', a wholly owned subsidiary of SubSea) and
C P Holder and W R Tacon as Joint Liquidators of M.O.S. Global Limited (In Liquidation) (''M.O.S. Global'', a wholly owned subsidiary of
SubSea) advise that a sale of certain of the assets of Comex and M.O.S. Global was completed on 21 May 2008 to Global Marine Systems
Limited. 

    The Joint Administrators and Joint Liquidators do not expect to realise any further significant amounts from the assets in the SubSea
group and do not expect that the shareholders of SubSea will receive any payment from the sale of the assets.

    Please contact Sally Tang of Kroll Limited (020 7029 5000) should any further information be required on the sale or any aspect of the
administrations or liquidation. 

    18 June 2008

This information is provided by RNS
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