Nasmyth Group Limited (company) Added 2/5/2023

The Board of Nasmyth Group Limited confirms that on Friday 28^th April, 2023 it filed a notice of intention to appoint an administrator (NOIA) at the High Court in London.  This development, which is part of a longer-term restructuring process initiated by the Board some 6 months ago, to deal with a number of legacy issues, follows the failure of the Court to sanction a Restructuring Plan.  It is the intention of the Board to continue to stabilise the company and ensure that this important part of the British aerospace sector can continue to trade successfully for the long-term.

For the avoidance of doubt, the NOIA applies only to Nasmyth Group Limited, an intermediate holding company. The wider group is not impacted, and its subsidiary trading companies will continue to trade as normal during this period, with the full support of all stakeholders.  It is not envisaged that the process will affect any of Nasmyth’s employees, and trade creditors to the operating companies will be paid as normal.