REG - Trackwise Designs - Notice of Intention to Appoint Administrators

Trackwise DesignsAnnouncement

25/07/2023 13:30

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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 (http://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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