Appointment of Administrators
March 15 2010 - 12:46PM
UK Regulatory
TIDMHHC
RNS Number : 6102I
Hexagon Human Capital PLC
15 March 2010
15 March 2010
Hexagon Human Capital PLC (the "Company" or "Hexagon")
Appointment of Administrators
On 18 February 2010 the Company announced that trading in its ordinary shares on
the AIM market of the London Stock Exchange had been suspended, pending
clarification of its financial condition.
Since this announcement the Company's board of directors (the "Board") has
explored a number of restructuring options available to the Company. As a
result, and in light of the Company's current financial condition, the Board has
concluded that the best course of action is to place the Company into
administration. Accordingly, on 12 March 2010, Antony Nygate and Shay Bannon of
BDO LLP (the "Administrators") were appointed as administrators to the Company
and were also appointed as administrators of a number of the Company's
subsidiaries. Brewin Dolphin has resigned as the Company's nominated adviser and
broker with immediate effect. Under the AIM Rules, if within one month of this
resignation, the Company has failed to appoint a replacement Nominated Adviser,
the admission of its shares to trading on AIM will be cancelled.
Immediately following their appointment, and following on from an extensive
marketing process, the Administrators sold the business and assets of Hexagon
and the business and assets of a number of Hexagon's subsidiaries to the
Company's management team.
For further enquiries:
Gemma Spekes - BDO LLP. - 020 7893 3299.
ENDS
This information is provided by RNS
The company news service from the London Stock Exchange
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