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BRIEF-RSM Tenon appoints administrators
August 22, 2013 / 9:18 AM / 4 years ago

BRIEF-RSM Tenon appoints administrators

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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