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 Fairpoint Group plc (FRP) 
Fairpoint Group plc: Disposal of Subsidiary 
 
01-Sep-2017 / 16:00 GMT/BST 
Dissemination of a Regulatory Announcement, transmitted by EQS Group. 
The issuer is solely responsible for the content of this announcement. 
 
                            Fairpoint Group PLC 
 
                        ("Fairpoint" or "the Group") 
 
                           Disposal of Subsidiary 
 
 Fairpoint Group plc (in administration) ('Group') announces the conditional 
 sale of the entire issued share capital of its wholly owned subsidiary, IVA 
                                        Insurance Limited to Barkol Limited. 
 
  The sale will be overseen by Group's Joint Administrators, Lindsey Cooper, 
   Gareth Harris and Alexander Kinninmonth of RSM Restructuring Advisory LLP 
             and will complete on confirmation of the purchaser's regulatory 
                                                              authorisation. 
 
The relevant business address of RSM Restructuring Advisory LLP is 3 Hardman 
                                                  Street, Manchester M3 3HF. 
 
     IVA Insurance Limited is a reinsurance captive specialising in consumer 
   claims. As at 31 December 2016, IVA Insurance Limited had gross assets of 
                                                                   GBP624,798. 
 
  The consideration comprises a cash payment of GBP450,001, with an additional 
     amount equivalent to cash balances held by the company being payable on 
  completion. The consideration will form part of the proceeds available for 
         distribution by the Joint Administrators to the creditors of Group. 
 
For enquiries please contact 
 
RSM Restructuring Advisory LLP 
 
Gemma Moorhouse gemma.moorhouse@rsmuk.com 
 
0113 285 5000 
 
Language:      English 
ISIN:          GB0032360280 
Category Code: DIS 
TIDM:          FRP 
Sequence No.:  4587 
 
End of Announcement EQS News Service 
 
606367 01-Sep-2017

(END) Dow Jones Newswires

September 04, 2017 06:33 ET (10:33 GMT)

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