- Aferian
- 06 March 2026 13:50:21
Source: Sharecast
The company said it had filed a notice of intention to appoint David Hudson and Philip Armstrong of FRP Advisory Trading as joint administrators of Aferian plc.
Its board said the move was taken to protect the interests of the company’s creditors.
The intended administration related only to the parent company and not to its trading subsidiaries, which would continue operating under the control of their existing directors.
The announcement came as the company progressed negotiations over a proposed sale of its operating businesses, 24i and Amino, as going concerns to a single buyer.
Aferian said its senior lenders had indicated support for the transaction, which was expected to be completed in the near term and would be implemented through a pre-packaged sale following the company’s entry into administration.
The proposed sale was intended to safeguard the group’s trading operations, maintain services for customers and preserve jobs while providing some recovery for senior lenders.
However, Aferian said the expected proceeds would be significantly below the $16.5m outstanding under the group’s secured banking facilities, meaning shareholders were unlikely to receive any return.
In light of the company’s financial position and the potential insolvency process, trading in Aferian’s ordinary shares on AIM was suspended from 0730 GMT on Friday.
Separately, the company said it had ended the formal sale process launched in September under the UK Takeover Code, after receiving no firm offers for the company itself.
As a result, Aferian was no longer considered to be in an offer period under the code and the related disclosure requirements had ceased to apply.
Reporting by Josh White for Sharecast.com.