Source - LSE Regulatory
RNS Number : 8826N
27 September 2023


27 September 2023





Notice of Intention to appoint Administrator filed by Vale Brothers Limited


The Board of CEPS announces that it has been informed that Vale Brothers Limited ("Vale"), a subsidiary of CEPS's associate company Vale Brothers Group Limited ("Vale Group"), has filed a Notice of Intention to Appoint Administrators, in order to protect the business in conjunction with engaging advisors to explore a sale of the company, its business and assets.


As mentioned in the Company's interim results on 5 September, Vale Brothers had continued to struggle, in common with its competitors, as demand for its products has been very weak.  It has taken the decision to seek a sale as the shareholders were not prepared to inject further money into the business.


As announced on 18 December 2020, CEPS' subsidiary, Davies Odell Limited ("Davies Odell"), merged with Vale which was achieved by the incorporation of Vale Group which acquired 100% of each of Davies Odell and Vale.  CEPS owns 33% of the issued share capital of Vale Group.


This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014 (which forms part of domestic UK law pursuant to the European Union (Withdrawal) Act 2018).


The directors of the Company accept responsibility for the content of this announcement.








Vivien Langford, Group Finance Director


+44 1225 483030


Cairn Financial Advisers LLP

James Caithie / Sandy Jamieson / Emily Staples


+44 20 7213 0880


Caution regarding forward looking statements

Certain statements in this announcement, are, or may be deemed to be, forward looking statements. Forward looking statements are identified by their use of terms and phrases such as ''believe'', ''could'', "should" ''envisage'', ''estimate'', ''intend'', ''may'', ''plan'', ''potentially'', "expect", ''will'' or the negative of those, variations or comparable expressions, including references to assumptions. These forward-looking statements are not based on historical facts but rather on the Directors' current expectations and assumptions regarding the Company's future growth, results of operations, performance, future capital and other expenditures (including the amount, nature and sources of funding thereof), competitive advantages, business prospects and opportunities. Such forward looking statements reflect the Directors' current beliefs and assumptions and are based on information currently available to the Directors.



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