Vale Brothers - associate company corporate update

CEPS PLC

19 October 2023

 

19 October 2023

CEPS PLC

('CEPS' OR THE 'COMPANY')

Update on Notice of Intention to appoint Administrator filed by Vale Brothers Limited

Further to the announcement made by the Company on 10 October 2023, the Board of CEPS announces that it has been informed that Vale Brothers Limited ("Vale"), a subsidiary of CEPS's associate company Vale Brothers Group Limited ("Vale Group"), was, on 18 October 2023, placed into administration.

CEPS has been informed by the administrator of Vale that the administrator has sold the business and assets of Vale to a company funded by Baaj Capital LLP.

At this time, the Board believes there will be no impact on CEPS.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014 (which forms part of domestic UK law pursuant to the European Union (Withdrawal) Act 2018).

The directors of the Company accept responsibility for the content of this announcement.

Enquiries

CEPS PLC Vivien Langford, Group Finance Director	[phone]
Cairn Financial Advisers LLP James Caithie / Sandy Jamieson / Emily Staples	[phone]

 

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