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Cantono

  • BY: Andrew Hore |
  • POSTED: 24/06/2009 |

Cantono has appointed an administrator following the disposal of its data centre operations.

SSE Telecommunications paid £4.85m for the business and the sale was completed on 16 June 2009. There are no operations left in the company.

The administrator will distribute any available cash to shareholders.

The shares were suspended on 29 May 2009 at 0.5p each, which values Cantono at £150,000.

The administrator will pursue litigation against Xploite, which has not paid the deferred consideration for Cantono‘s former IT managed services business. Xpolite should have paid £1.1m on 15 March 2009 but it has not been paid.

Vantis has been appointed liquidator of Cantono Data Centre Services Ltd. 

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