18th Dec 2008 08:01
18 December 2008
AssetCo plc
TVAC - The Vehicle Application Centre Limited ('TVAC')
Placed into administration
AssetCo plc, (AIM : ASTO) the integrated support services business, announces that the Board has concluded it's strategic review of TVAC Ltd and due to continued losses there is no longer any prospect that TVAC, a wholly owned subsidiary, can operate as a going concern. Accordingly, it has been placed into administration today.
This action should have no material adverse affect on the financial performance of AssetCo plc.
The Joint Administrators are John Charles Reid and William Kenneth Dawson of Deloitte LLP, Saltire Court, 20 Castle Terrace, Edinburgh EH1 2DB
Enquiries:
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AssetCo |
Tel: +44 (0) 20 8515 3999 |
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Frank Flynn, Financial Director |
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James Collins, Investor Relations |
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RBS Hoare Govett Limited |
Tel: +44 (0) 20 7678 8000 |
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Stephen Bowler |
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John MacGowan |
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Richard Crichton |
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Pelham PR |
Tel: +44 (0) 207743 76670 |
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Alex Walters |
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Francesca Tuckett |
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