BRIEF-RSM Tenon appoints administrators

Thu Aug 22, 2013 5:15am EDT

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Aug 22 (Reuters) - RSM Tenon Group PLC : * Appointment of administrators * No longer in talks with baker tilly regarding a possible offer for the issued

share capital of the company * No longer in an offer period * RSM Tenon Ltd and other principal trading entities continue to trade as

normal and are not affected by this * Company's ordinary shares have been suspended from trading with immediate

effect * Joint administrators agreed a sale of the company's trading entities to baker

tilly * Sale is expected to complete within two weeks, following regulatory and

shareholder approval * Informed by Lloyds Banking Group that should it breach covenants, as

expected, Lloyds would not grant waiver * Terms of the sale agreement mean that Lloyds will not recover its secured

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