Further update re Ve Interactive Limited

12 February 2018

Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR).

Concha (AIM: CHA) notes, further to the announcement made on 26 January 2018, the publication of a judgment by the High Court dated 8 February 2018 relating to a claim brought by certain creditors of Ve Interactive Limited ("Ve") against the administrators of Ve, which sets out the Court's decision to remove and replace the administrators and the rationale for that decision.  Concha notes with interest the contents of the judgment in the matters surrounding both the appointment of administrators to Ve and the subsequent sale of the business and assets of Ve to Rowchester Limited. Your Board is encouraged by the decision to remove the administrators and the concerns raised by the Court over their actions during the term of their engagement.

Concha will review its position in the light of this judgement and provide a further update when it is appropriate to do so. At present, your Board does not propose any change to the carrying value of the Company's investment in Ve.

 

For further information, please contact:

Concha PLC
Chris Akers, Chairman

Chris.akers@srgplc.com

   
SPARK Advisory Partners Limited (Nominated Adviser)
Mark Brady/Andrew Emmott

+44 (0)20 3368 3550

 

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