VPhase plc. : Disposal

VPhase plc

("VPhase" or the "Group")

Disposal

Vphase announces the disposal of all of the intellectual property and tooling of the Group's operating subsidiary VPhase Smart Energy Limited (in Administration).  The Group's intellectual property was sold to Southern Fox Investments Limited and the tooling was sold to Bristol Bluegreen Limited. Substantially all of the income of the Group was attributable to the assets that were sold.

The full consideration of the transaction is £200,000 and waspaid on completion,on 24 September 2013. The proceeds will be distributed in accordance with the Insolvency Act 1986.

The Administrators are in the process of realising the remaining assets of the Group.

- Ends -

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