Subsid. Creditor Arrangement
January 31 2006 - 1:22PM
UK Regulatory
RNS Number:7330X
Soccercity PLC
31 January 2006
Soccercity plc
(the "Company")
Subsidiary's arrangement with creditors
The Company announces that, following a meeting of creditors and shareholders of
Soccercity North Limited ("Soccercity North"), a non-trading, wholly owned
subsidiary of the Company, held on 26 January 2006, Soccercity North has entered
into a company voluntary arrangement providing for the settlement of amounts due
to certain creditors amounting to #309,060 (including a provision for fees of
approximately #11,000) by means of equal monthly instalments of #5,151 over 60
months.
As mentioned in the Company's interim results statement issued on 13 October
2005, we continue to work with our advisers to endeavour to raise further funds
for the Company.
Enquiries:
Norman Molyneux, Soccercity plc 01942 322256
David Youngman, WH Ireland Limited 0161 832 2174
This information is provided by RNS
The company news service from the London Stock Exchange
END
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