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ASSETCO PLC — Legal Proceedings Report 2018
Oct 16, 2018
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Legal Proceedings Report
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RNS Number : 2023E
AssetCo PLC
16 October 2018
Issued on behalf of AssetCo plc
Immediate Release
16 October 2018
AssetCo plc
("AssetCo" or the "Company")
Trade update
AssetCo received a letter yesterday from our Abu Dhabi client for firefighting services, the Presidential Special Guard ("Major Client"), which served three months' notice to the Company and signalled the Major Client's intention to transfer our existing services to a provider of services for the whole of the Abu Dhabi Military.
AssetCo management are in the early stages of discussions on the future arrangements with the Major Client which will be ongoing over the coming months.
The Board shall update shareholders on this and regarding the outstanding litigation against Grant Thornton, which was the subject of a High Court hearing in June and July 2018 with judgment expected this calendar year, in due course.
| Enquiries: |
| Tudor Davies, Chairman |
| AssetCo plc |
| Tel: +44 (0) 7785 703523 Or +44 (0) 20 7614 5900 |
| Ticker AIM: ASTO.L www.assetco.com |
| John Llewellyn-Lloyd / Ciaran Walsh |
| Arden Partners plc |
| Tel: +44 (0) 20 7614 5900 |
| Fiona Tooley |
| TooleyStreet Communications |
| Mobile: +44 (0) 7785 703 523 |
| Email: [email protected] |
The information contained within this announcement is deemed by the Company to constitute inside information stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
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