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June 3, 2010

Vantis considers restructuring

UK audit and advisory company Vantis is considering
restructuring in order to reduce its level of debt.

The company’s board has announced negotiations with
potential investors and preliminary discussions with debt providers
are in progress.

Vantis’s banks have confirmed their support for the
board’s exploration of options to improve the financial position
for the company and its shareholders.

Vantis, a member of HLB International, is listed on
the London Stock Exchange’s Alternative Investment Market
and has about 1,000 staff throughout the
UK.

The company received a going concern
warning from its auditor Ernst & Young in February due mainly
to
payment problems stemming from insolvency work
on Stanford International Bank.

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