GFG Greatfleet

    RNS Number : 0004Z
  Greatfleet PLC
  14 July 2008
   

    For immediate release            14 July 2008


    Greatfleet plc
    ("Greatfleet" or the "Company")

    Statement re protection

    Further to the suspension of the Company's shares on 9 July 2008 pending clarification of the Company's financial position, the Board of
Greatfleet announces that on 11 July 2008 it entered into a period of protection pursuant to the provisions of the Insolvency Rules 1986.
Under protection the Board will work with the Company's business recovery advisers to undertake a review of the Company's assets including
assessing how to protect the interests of creditors and shareholders and considering the future of the Company. Possible options being
considered at present by the Board include a re-negotiation of the amounts owed to the Company's major creditor, a sale of some or all of
the Company's assets and/or a refinancing of the Company.

    This period of protection will last for a period of ten business days.

    The Board will make further announcements as appropriate.

    For further information please contact:

    Greatfleet plc
    Sir John Baker, Chairman
    Colin Gerstein, Chief Executive Officer                                       Tel: 0845 881 0700

    Noble & Company Limited (nominated adviser and broker)
    Nick Naylor / Nick Athanas                                                          Tel: 0207 763 2200

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