The administrators of Elonex Public Limited Company, Neville Kahn and Nick Edwards of Deloitte, confirmed that the sale of the business and assets was completed last night (4/07/06) for an undisclosed sum. 

The purchasers – Applied Film Industries Company plc (AFIC plc) – are now responsible for running the business.

The sale includes the business and assets, the use of Elonex plc name, and will secure on-going employment for the remaining workforce (48 employees).  

Deloitte partner and Administrator Neville Kahn confirmed that “Conclusion of this sale provides an excellent platform for the business and the workforce to prosper in the future.  The workforce in particular has maintained support for the Administration throughout this very uncertain time and this has been an important element in securing the successful sale of the business.”

Administrators’ advisors:

• Legal   – Ben Larkin at Berwin Leighton Paisner, London
• Property – Ereira Mendoza, London

Ends

About Deloitte
In this press release references to Deloitte are references to Deloitte & Touche LLP which is among the country’s leading professional services firms, providing audit, tax, consulting and corporate finance services. Known as an employer of choice for innovative human resources programmes, it is dedicated to helping its clients and people excel. Deloitte & Touche LLP is the United Kingdom member firm of Deloitte Touche Tohmatsu (‘DTT’), a Swiss Verein whose member firms are separate and independent legal entities.  Neither DTT nor any of its member firms has any liability for each other’s omissions.  Services are provided by member firms or their subsidiaries and not by DTT. 

Deloitte & Touche LLP is authorised and regulated by the Financial Services Authority. 

The information contained in this press release is correct at the time of going to press.