Bagir Group Ltd Appointment of Court Trustees
RNS Number : 4101K
Bagir Group Ltd
22 April 2020
22 April 2020
Bagir Group Ltd.
("Bagir", the "Group" or the "Company")
Appointment of Court Trustees
Bagir (AIM: BAGR), a designer, creator and provider of
innovative tailoring, provides a further update in relation to its
announcement on 14 April 2020 in connection with its application to
the District Court in Beer-Sheva, Israel (the "Court") for an order
in accordance with Section 18 of The Insolvency and Economic
Rehabilitation Law 2018.
The Court has accepted the Company's application under Section
18 of The Insolvency and Economic Rehabilitation Law 2018 and has
appointed Micha Rohen, Chief Executive Officer and Ilan
Shavit-Stricks Adv, Head of Firm and Senior Partner of Haim Zadok
& Co as trustees (the "Trustees").
The Trustees will undertake an assessment of the options
available to the Group, including the likelihood of maintaining the
Group's business as a going concern. The Trustees are required to
submit their findings to the Court on 10 May 2020. It is
anticipated that a Court hearing will take place at 10.00am (Israel
time) on 12 May 2020 to assess and agree the next steps to be taken
by the Company.
As a result of the ongoing Court process and continuing
uncertainty of the Group's financial position, the Company's shares
will remain suspended from trading on the London Stock
Further updates to shareholders will be made accordingly.
For further information, please contact:
Bagir Group Ltd. via Novella on:
Tessa Laws, Non-Executive Chair +44 (0) 20 3151 7008
Micha Ronen, Chief Executive Officer
Dotan Levy, Chief Financial Officer
James Moat +44 (0) 20 7496 3000
Fergus Young +44 (0) 20 3151 7008
For more information about Bagir, please visit the Company's
website: http://www. https://www.bagirgroup.com/
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact firstname.lastname@example.org or visit www.rns.com.
(END) Dow Jones Newswires
April 22, 2020 02:00 ET (06:00 GMT)