IN BRIEF: Kinovo's sold business DCB appoints joint administrators

Kinovo PLC - London-based property services company focused on safety and regulatory compliance, ...

Alliance News 16 May, 2022 | 8:22PM
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Kinovo PLC - London-based property services company focused on safety and regulatory compliance, land regeneration and energy efficiency - Notes that former construction business and subsidiary DCB Kent Ltd has appointed two partners of CFS Restructuring LLP as joint administrators.

Kinovo is establishing the effect of an administration of DCB based on the monies it has advanced to the subsidiary to support its working capital, which currently remains at GBP3.7 million.

"We are very disappointed to be informed of the appointment by DCB of the joint administrators. We are actively engaged with our legal advisors in establishing Kinovo's position in consequence of an administration of DCB, and we are also in direct discussions with the joint administrators," said Chair Sangita Shah.

Current stock price: 17.25 pence

12-month change: down 56%

By Dayo Laniyan; dayolaniyan@alliancenews.com

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Kinovo PLC 15.50 GBX 1.64 -

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