Investment in Scotplast

Robinson plc

investment in scotplast

Robinson plc ("Robinson"; stock code: RBN), the custom manufacturer of plastic and paperboard packaging based in Chesterfield, announces that Scotplast Limited has entered administration with the appointment of joint administrators, Paul Dounis and David Menzies, of Begbies Traynor Group.

Robinson owns 49% of the issued share capital of Scotplast Ltd but, as previously announced, had written off the whole of its investment in the company in June 2012. The joint administrators have sold the business to Northpac Ltd, a recently formed company in Scotland in which Robinson has no interest.

Robinson has assigned its rights in relation to a loan to Scotplast Limited (including security for that loan) for a consideration of £0.3m.

Adam Formela, Chief Executive of Robinson was a director of Scotplast Limited.

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