Trade Update

RNS Number : 3399L

AssetCo PLC

21 December 2018

 

Issued on behalf of AssetCo plc

Immediate Release

21 December 2018

AssetCo plc

("AssetCo" or the "Company")

Trade Update

Further to the Company's announcement on 16 October, AssetCo has advanced the discussions with the major client in Abu Dhabi, the Presidential Special Guard ("the Client"), to enable the transfer of the existing services to a provider for the whole of the Abu Dhabi Military.

With effect from this week the Company has transferred the Emirati employees, who carried out the day to day operations, but has retained the experienced team of overseas trained staff as the Client envisages AssetCo will enter into a new arrangement to provide Fire Safety and Training services to the Client. The Company is also in active discussions with other organisations in the region to supply similar Fire Safety and Training services.

The Company has not yet received judgment in connection with the High Court litigation, heard in July 2018, against our former auditors Grant Thornton, and AssetCo now expects the judgement in the first couple of months of the New Year.

The Company shall update shareholders on the litigation judgment and on future business as and when appropriate.

Enquiries:

Tudor Davies, Chairman

AssetCo plc

Tel: [phone] Or   [phone]

Ticker AIM: ASTO.L www.assetco.com

John Llewellyn-Lloyd / Ciaran Walsh

Arden Partners plc

Tel: [phone]

Fiona Tooley

TooleyStreet Communications

Mobile: [phone]

Email: [e-mail]

 

END

 

 

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