Trade update

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: [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]

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.

 

END

 

 

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