Information  X 
Enter a valid email address

Universal Salvage (UVS)

  Print      Mail a friend       Annual reports

Wednesday 19 May, 2004

Universal Salvage

Response to FSA announcement

Universal Salvage PLC
19 May 2004

                             UNIVERSAL SALVAGE PLC

                     ('Universal Salvage' or 'the Company')

                          Response to FSA Announcement

Universal Salvage notes the announcement issued by The Financial Services
Authority ('FSA') today, relating to the breaching of the Listing Rules in April

As mentioned in the FSA's statement, the Company has been given credit for its
co-operation in the investigation and in resolving the matter expeditiously. In
addition, the FSA has highlighted the fact that there was no intention by any
party deliberately to mislead the market. The Company wishes to express its
regret for the Listing Rules breach and confirms that it has taken subsequent
appropriate steps to prevent a recurrence of the matter.

In view of the FSA's ruling, non-executive director, Martin Hynes, formerly
chief executive, has offered his resignation and will be stepping down from the
Board with immediate effect. The Directors would like to thank Martin for his
considerable contribution to the business over the course of the last six years
and wish him well in the future.



Universal Salvage plc
Nigel Sandy, chief executive
01234 762283

Katie Tzouliadis
020 7448 1000

                      This information is provided by RNS
            The company news service from the London Stock Exchange