Prudential International Development (00372) issued an announcement. On April 9, 2024 (UK time), Cupral...
Zhitong Financial App News, Prudential International Development (00372) issued an announcement. On April 9, 2024 (UK time), Cupral Group Limited (Cupral) (a limited company incorporated in the UK and a 90% subsidiary of the company) filed a notice to appoint a manager in the UK. According to this, in view of Cupral's poor business performance and financial situation, according to the UK's 1986 bankruptcy law, Martyn of FRP Advisory Trading Limited James Pullin and David Antony Willis will both be appointed Co-Managers of Cupral. The appointment of a manager will put into effect a statutory stay prohibiting any legal action by Cupral's creditors, so that the administrator can facilitate the orderly realisation of its assets for the benefit of creditors.
After the appointment, the legal control of Cupral's business will be transferred from Cupral's director to the manager acting as Cupral's agent. Therefore, after the appointment, Cupral's financial results will no longer be comprehensively recorded with the Group's financial results, but will not be realized until confirmed by the company's auditor.