River Tech Seeks Court-Supervised Liquidation and Lays Off Entire Workforce

An announcement from River Tech p.l.c. ( (DE:9YQ) ) is now available.

River Tech p.l.c. has initiated court proceedings in Malta seeking the dissolution and winding up under court supervision of both the parent company and its subsidiary, River Technologies Limited, with the Civil Court (Commercial Section) to handle the applications and appoint liquidators for each entity. Once appointed, the liquidators will assume most board powers, oversee the realisation of assets and distribution to creditors according to legal ranking, and manage the full wind-up process under court oversight, while all group employees, including the CEO and CFO, have been given redundancy notices, signalling an effective shutdown of operations and a major impact on stakeholders.

The court is also being asked to appoint provisional administrators to take control of the entities until final winding-up orders and liquidator appointments are issued, with the subsidiary expected to require only one hearing and the parent company facing further evidentiary hearings before a winding-up order is delivered within months. The move places River Tech on a path to formal liquidation, raising significant consequences for creditors, employees and shareholders as the company exits the market and its assets are realised to meet outstanding obligations.

More about River Tech p.l.c.

River Tech p.l.c. is a Malta-registered technology company that offers a B2B technology product designed to provide secure, tailor-made and user-friendly solutions for companies delivering services in the online sphere. The company is listed on Euronext Growth under the ticker symbol RIVER and focuses on assisting businesses with specialist competencies through its digital platforms.

YTD Price Performance: -68.18%

Average Trading Volume: 12,817

Current Market Cap: NOK28.77M

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