Statement re. Suspension

 

TIDMVTS 
 
RNS Number : 5382N 
Vantis PLC 
14 June 2010 
 

 
14 June 2010 
                     Vantis plc ("Vantis" or the "Company") 
 
                    Suspension of shares from trading on AIM 
                                  Board changes 
 
Suspension of shares from trading on AIM 
 
As has been previously announced, the Board of Vantis has been focussed on 
reducing the Company's level of debt. The Board now announces that, although 
discussions continue in relation to the disposal of certain of the Company's 
assets as well as with both potential new investors and its debt providers, it 
can no longer be certain that it will continue to have sufficient funding to 
enable it to continue to trade on a going concern basis.  Accordingly, in 
accordance with the AIM Rules, trading in the Company's ordinary shares has been 
suspended pending clarification of its financial position. 
A further announcement will be made as and when appropriate. 
Board changes 
The Board of Vantis also announces that Paul Jackson and Nigel Hamilton-Smith 
resigned as directors of Vantis plc on 12 June 2010.  Steve Smith, currently 
Finance Director, will take over all executive responsibilities until a 
replacement Chief Executive is identified.  Mr Jackson and Mr Hamilton-Smith 
will retain their executive duties within the Vantis group of companies. 
ENDS 
For further information: 
+--------------------------------+--------------------------+ 
| Vantis plc                     |         [phone] | 
+--------------------------------+--------------------------+ 
| Stephen Smith, Finance         |                          | 
| Director                       |                          | 
+--------------------------------+--------------------------+ 
|                                |                          | 
+--------------------------------+--------------------------+ 
| Investec Investment Banking    |         [phone] | 
+--------------------------------+--------------------------+ 
| Martin Smith                   |                          | 
+--------------------------------+--------------------------+ 
|                                |                          | 
+--------------------------------+--------------------------+ 
| Buchanan Communications        |         [phone] | 
+--------------------------------+--------------------------+ 
| Richard Darby, James Strong    |                          | 
+--------------------------------+--------------------------+ 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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