Vale Brothers - associate company corporate update
Vale Brothers, a subsidiary of CEPS's associate company, placed into administration and sold to Baaj Capital-funded buyer.
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Further to the announcement made by the Company on 10 October 2023, the Board of CEPS announces that it has been informed that Vale Brothers Limited ("Vale"), a subsidiary of CEPS's associate company Vale Brothers Group Limited ("Vale Group"), was, on 18 October 2023, placed into administration.
CEPS has been informed by the administrator of Vale that the administrator has sold the business and assets of Vale to a company funded by Baaj Capital LLP.
At this time, the Board believes there will be no impact on CEPS.
The directors of the Company accept responsibility for the content of this announcement.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.