TIDMMNGS

RNS Number : 2155P

Manganese Bronze Hldgs PLC

22 October 2012

Manganese Bronze Holdings PLC

Notice of intention to appoint administrators

22 October 2012

Manganese Bronze Holdings PLC (the "Group"), the manufacturer of the world famous London taxi, today announces that discussions with various parties to secure funding on acceptable terms to address the Group's financial needs have proved unsuccessful. The Board has therefore concluded that the Group is no longer a going concern and has filed notice of intention to appoint administrators.

A speedy resolution of the product recall announced on 12 October 2012 relating to the discovery of a steering box fault remains the top priority for the Group and will continue to do so throughout the administration process.

The Board remains hopeful that the fundamental strengths of the company, the TX4 model and its global reputation will provide the platform for a successful business in the future.

A further announcement will be made in due course.

 
For further information, please contact: 
Manganese Bronze Holdings 
 PLC 
John Russell, Group        Tel: +44 (0) 24 7657 2108 
 Chief Executive 
Peter Johansen, Group      Tel: +44 (0) 24 7657 2214 
 Finance Director 
 
FTI Consulting 
Nick Hasell                Tel: +44 (0) 20 7269 7291 
 
Grant Thornton UK LLP 
Philip Secrett/Melanie     Tel: +44 (0) 20 7383 5100 
 Frean

This information is provided by RNS

The company news service from the London Stock Exchange

END

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