DAV Davenham

 

TIDMDAV 
 
RNS Number : 5049O 
Davenham Group PLC 
30 June 2010 
 

                              Davenham Group plc 
                          ("davenham" or the "company") 
 
                        Conclusion of Strategic Review 
On 31 March 2010 Davenham announced its interim results for the 6 months ended 
31 December 2009.  In that announcement Davenham noted that it was continuing to 
work with Hawkpoint Partners to complete Davenham's strategic review and that, 
whilst the strategic review was yet to be concluded, the Board considered that 
there would be little or no value remaining for ordinary shareholders in the 
Company. 
The strategic review has now concluded. The outcome of that strategic review is 
that Davenham will cease to write new business and that, with the support of its 
banking syndicate, Davenham will collect in its loan books in a prudent and 
orderly manner.  The detailed parameters of that run-off are being finalised 
with the banking syndicate, to ensure a stable platform. 
In view of this outcome of the strategic review, the Board considers (having 
consulted with Hawkpoint Partners) that there is likely to be no value for 
ordinary shareholders in the Company. 
In the circumstances and having regard to the ongoing costs of maintaining the 
listing of the Company's shares, the Company intends to convene a general 
meeting of shareholders at which a resolution will be proposed to cancel the 
admission of its securities to the Alternative Investment Market.  A further 
announcement and circular will be released shortly. 
Enquiries:- 
Davenham Group plc 
Paul Burke, Group Managing Director                                Tel: 0161 837 
3137 
Hawkpoint Partners Limited (Nominated Adviser) 
Lawrence Guthrie / Shaun Holmes                                    Tel:  020 
7665 4642/020 7665 4682 
Hogarth 
Katie Hunt 
Tel: 020 7357 9477 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 MSCLIFIARSIIVII 
 

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