News blog

VPhase

• BY: Andrew Hore |
• POSTED: 04/09/2013 |

Energy efficiency products developer VPhase has appointed BDO to be its administrator.

The company has been trying to raise additional cash for the past three months but has not been able to secure the finance it requires to continue to trade.

The £2.57m carrying value of Flowgroup’s 25.6% stake in VPhase has been written off.

Trading in VPhase shares was suspended on 20 June at 0.17p, which valued the company at £2.43m. This shows that Flowgroup has not adjusted the carrying value of its investment for some time.

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFAugust2013_47.pdf