IN BRIEF: Directa Plus appoints administrators, progresses Setcar sale

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Directa Plus PLC - Lomazzo, Italy-based graphene products manufacturer - Appoints James Lumb and Howard Smith of Interpath Ltd as joint administrators to manage its affairs ‘for the purposes of achieving a better result for the company’s creditors as a whole than would be likely if the Company were wound up’. Directa also confirms that the voluntary liquidation process for Italian subsidiary Directa Spa has been certified. Additionally, it says initial meetings have taken place with interested parties regarding the potential sale of Setcar SA, its Romanian environmental remediation subsidiary. Says talks are ongoing but that there is no certainty that any transaction will conclude. Adds that the outcome of the Italian liquidation and Setcar disposal will determine whether any returns will be generated for shareholders.

Current stock price: 7.00 pence

12-month change: down 3.5%

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