END Endeavors

    RNS Number : 9741A
  Endeavors PLC
  08 August 2008
   
    8 August 2008

    Endeavors PLC (in administration) (the Company)
    Appointment of joint administrators 
Cancellation of Listing

    On 15 July 2008 the Company announced it could not complete a fundraising and the suspension of the Company's ordinary shares. On 18
July 2008 the Company announced it had insufficient working capital to be admitted to AIM and that the ordinary shares would not be
cancelled from the Official List. On 31 July 2008 the Company announced the filing of a notice of intention to appoint administrators.
    The directors of the Company have appointed today as joint administrators of the Company, pursuant to paragraph 22 of Schedule B1 to the
Insolvency Act 1986, Richard Dixon Fleming and Mark Granville Firmin both of KPMG LLP (the 'Joint Administrators').  
    A request has been made to the UK Listing Authority that the listing of the Company's ordinary shares on the Official List of the London
Stock Exchange and the admission of its ordinary shares to trading on the main market for listed securities of the London Stock Exchange plc
be cancelled. These cancellations are expected to take effect at 8.00 a.m. on Monday 11 August 2008.
    The Company acting by the Joint Administrators has entered into a sale agreement to sell the business and assets of the Company that
include the Company's trading subsidiaries, Endeavors Technologies Inc and Stream Theory Inc, to a newly incorporated company Acresail
Limited.
    There is no prospect of the Company's shareholders receiving a dividend from the administration.
    Enquiries in relation to the administration of Endeavors PLC should be addressed to Chris Scott or Sharon Gladish on 0113 254 2920.




    END

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