Trackwise Designs PLC Notice of Intention to Appoint Administrators (1450H)
July 25 2023 - 8:17AM
UK Regulatory
TIDMTWD
RNS Number : 1450H
Trackwise Designs PLC
25 July 2023
25 July 2023
TRACKWISE DESIGNS PLC
("Trackwise", the "Company" or the "Group")
Notice of Intention to Appoint Administrators
On 24 July 2023, the Company announced the decision of the Board
to pursue a sale of the Company's trading operations.
Whilst this sale process has just been initiated, due to the
Group's current financial uncertainty and in light of increased
creditor pressure, following discussions with its advisors the
Board has resolved to today file a notice of intention to appoint
administrators to the Company. Unless circumstances change, the
Board intends in due course to appoint administrators in accordance
with statutory requirements.
Trading in the Company's ordinary shares on AIM remains
suspended pursuant to the notice of 03 July 2023.
Further announcements will be made in due course.
Enquiries
Trackwise Designs plc +44 (0)1684 299 930
Philip Johnston, CEO www.trackwise.co.uk
Paul Cook, CFO
FRP Advisory Trading Limited trackwise@frpadvisory.com
finnCap Ltd +44 (0)20 7220 0500
NOMAD and Broker
Ed Frisby/Fergus Sullivan - Corporate
Finance
Andrew Burdis/Barney Hayward -
ECM
The information contained within this announcement is deemed to
constitute inside information as stipulated under the retained EU
law version of the Market Abuse Regulation (EU) No. 596/2014 (the
"UK MAR") which is part of UK law by virtue of the European Union
(Withdrawal) Act 2018. The information is disclosed in accordance
with the Company's obligations under Article 17 of the UK MAR. Upon
the publication of this announcement, this inside information is
now considered to be in the public domain.
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END
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