Statement re TVAC

RNS Number : 3726K

AssetCo PLC

18 December 2008

 



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: 

AssetCo	Tel: [phone]
Frank Flynn, Financial Director
James Collins, Investor Relations
RBS Hoare Govett Limited	Tel: [phone]
Stephen Bowler
John MacGowan
Richard Crichton
Pelham PR	Tel: [phone]
Alex Walters
Francesca Tuckett

 

END

 

 

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