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8 June, 2012 - 11:23 By Tony Quested

Administrators warn Alizyme shareholders

Ian Carr

The administrators of stricken Cambridge UK biotech company Alizyme plc have warned shareholders to thoroughly investigate requests to buy their stock and not to hand over their bank details without proper due diligence.

Ian Carr and Nigel Morrison, appointed when the company went bust in July 2009, have been forced into the unusual step of issuing the warning after being made aware that a number of shareholders were being approached with offers.

Alizyme’s administration was converted into a creditors’ voluntary liquidation in December 2009 and the Grant Thornton partners are continuing to try to realise assets for creditors.

But in an update issued today they alert Alizyme shareholders to be on their guard.

A statement said: “In recent weeks, it has come to our attention that a number of shareholders are being approached with offers to purchase their shares.

“It is not appropriate for the liquidators to advise the shareholders as to whether to enter into any correspondence with these offerors, or whether they should consider selling their shares to any other third party.

“However, shareholders should always conduct appropriate investigations and due diligence into any offer made for their shares in order to satisfy themselves that it is a genuine good faith offer.

“In circumstances where we understand that shareholders' bank details are requested as part of the offer process, it is not for us to comment on whether this is unusual or suspicious.

“However, it is critically important for any individual shareholder to give serious consideration about this request for bank details to ensure that disclosure of such details, if any shareholders were minded to do so, would be appropriate and necessary and could not be misused.”

On the general situation, they added: “The liquidators continue to seek realisation of various assets and adjudication of certain significant claims. Until those two matters are more fully resolved it is not possible to advise on the likelihood of any return to shareholders.”


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