Uvenco UK plc Further update (6518O)

TIDMUVEN

RNS Number : 6518O

Uvenco UK plc

21 May 2018

21 May 2018

UVENCO UK PLC ("Uvenco" or the "Company")

Further update

On 14 May 2018 the Company announced that it was in discussions with a third party that might have led to the sale of its trading subsidiaries, Uvenco Limited, the vending operator, and Snack in the Box Limited, the franchising operator, together with the assumption of a substantial proportion of the Company's debt obligations. The Company further announced that it would be likely that any consideration receivable by the Company would be minimal.

The Company has now been informed that the potential buyer is no longer considering buying those companies as going concerns. However, the Company has received, from the same potential buyer, an offer to acquire the assets of Uvenco Limited, Snack in the Box Limited and the Group's other trading subsidiary, Drinkmaster Limited, and an alternative offer to buy Drinkmaster Limited alone as a going concern.

The Board of the Company, advised by KPMG, are meeting to discuss the options available to it today and a further announcement will be made shortly.

For further information:

 
 Uvenco UK PLC 
 
Sergei Kornienko CEO   020 8879 8300 
 

Jeremy Hamer, Chairman

 
Stockdale Securities 
 Limited 
Tom Griffiths 
 Richard Johnson       020 7601 6100 
 

The information contained within this Announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014.

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 [e-mail] or visit www.rns.com.

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May 21, 2018 02:01 ET (06:01 GMT)