News blog

Adventis Group

• BY: Andrew Hore |
• POSTED: 03/12/2012 |

Former marketing services provider Adventis Group is entering into a Company Voluntary Arrangement (CVA) which will enable it to return to Aim as a cash shell called Reabold Resources.

The purchase of the company’s debt frm its bank scuppered the sale of its technology division during the summer. The company was placed in administration on 23 July 2012. BChannels was sold by the administrator but the rest of the technology division went into administration. The only remaining subsidiary of Adventis is Premium Media Ltd, which has limited assets and liabilities.

A creditors meeting will be held on 19 December. The CVA will last six months and creditors will receive between 0.5p and 1p in the pound.

The nominal value of the shares will be reduced to 0.1p following a seven-for-one share consolidation and capital reduction. Adventis intends to raise £150,000 at 0.25p a share.

Adventis plans to publish its 2011 figures and 2012 interims during December. The new investing policy focuses on the natural resources sector.

Jeremy Edelman and Anthony Samaha will become directors. Edelman is an Australian who has been a director of other Aim companies, including Altona Energy and Leni Gas & Oil. Samaha has been on other boards with Edelman and is a director of Equatorial Palm Oil.

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFNovember2012_38.pdf