CVL Conival

 

TIDMCVL 
 
RNS Number : 8070M 
Conival plc 
04 February 2009 
 

4 February 2009 
 
 
Conival Plc 
("Conival" or "the Company") 
 
Intention to consult an insolvency practitioner 
 
 
 
 
Following the Company's announcement on 28 January 2009 concerning the 
unexpected departure of its Chief Executive, a secured creditor of the Company 
has exercised its right under its debentures with the Company and the Company's 
wholly owned subsidiary, Glorious! International Limited ("Glorious" and 
together with Conival, "Conival Group"), to enforce its security and, 
accordingly, has taken an assignment of certain of the Conival Group's key 
assets. As a result, the Board of Conival announces that it has ceased to trade 
and will be taking immediate advice from an insolvency practitioner with a view 
to placing the Conival Group into liquidation. 
 
 
Historically, certain of the Company's products have been manufactured by TSC 
Foods Limited ("TSC"). Prior to the Company's secured creditor enforcing its 
security as referred to above, the Glorious granted TSC a trade mark sub-licence 
pursuant to which TSC assumed responsibility for marketing and supplying those 
products to customers. Glorious's rights and obligations under this sub-licence 
will be automatically transferred to the ultimate owner of the trade mark in the 
event that the Conival Group is liquidated. 
 
 
 
 
 
 
Enquiries: 
Conival plc 
0870 389 6999 
John Bick 
W.H. Ireland 
0121 265 6330 
Tim Cofman-Nicoresti 
 
 
 
 
 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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