Robinson PLC Investment in Scotplast (1406N)

TIDMRBN

RNS Number : 1406N

Robinson PLC

25 September 2012

Robinson plc

investment in scotplast

Robinson plc ("Robinson"; stock code: RBN), the custom manufacturer of plastic and paperboard packaging based in Chesterfield, announces that Scotplast Limited has entered administration with the appointment of joint administrators, Paul Dounis and David Menzies, of Begbies Traynor Group.

Robinson owns 49% of the issued share capital of Scotplast Ltd but, as previously announced, had written off the whole of its investment in the company in June 2012. The joint administrators have sold the business to Northpac Ltd, a recently formed company in Scotland in which Robinson has no interest.

Robinson has assigned its rights in relation to a loan to Scotplast Limited (including security for that loan) for a consideration of GBP0.3m.

Adam Formela, Chief Executive of Robinson was a director of Scotplast Limited.

For further information, please contact:

 
 Robinson plc 
 Guy Robinson, Finance Director           Tel: 01246 389283 
                                  www.robinsonpackaging.com 
 WH Ireland 
 Katy Mitchell                           Tel: 0161 832 2174

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCEELFLLKFEBBX

Robinson (LSE:RBN)
Historical Stock Chart
From Jun 2024 to Jul 2024