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Works Media Grp(The) (WKS)

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Friday 12 November, 2010

Works Media Grp(The)

Appointment of Administrator

RNS Number : 1253W
Works Media Group (The) PLC
12 November 2010
 



 

12 November 2010

 

 

 

 

THE WORKS MEDIA GROUP PLC

 

APPOINTMENT OF ADMINISTRATORS

 

 

Trading in the Company's shares on AIM was suspended on 1 October 2010 as a result of the Company's interim results, for the 6 month period ended 30 June 2009, not being released within the required timeframe.

 

The Company now announces that, following the Board's unsuccessful  efforts to raise further funding for the Group, Milcoz Films Limited, as the holder of a Qualifying Floating Charge over the Group's assets, appointed Peter Kubik and Andrew Andronikou of UHY Hacker Young LLP of 4 Thomas More Square, London E1W 1YW as Joint Administrators on 11 November 2010.  

 

The Company's subsidiaries, The Works International Limited, The Works UK Distribution Limited and the Film Consortium Limited, which  are not the subject of the administration proceedings, continue to trade and are in the process of being acquired by the Company's major secured creditor.

 

 

For more information please contact:

 

 

UHY Hacker Young LLP

Peter Kubik/ Andrew Andronikou +44 020 7216 4600

 

Northland Capital Partners Limited

Gavin Burnell/Rod Venables       +44 020 7492 4750

 

 

 

 

 

 

 

 

 

 

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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