Grant Thornton to resign as Libertas nomad

Grant Thornton is to step down as nominated adviser to troubled financial services firm Libertas next week.

GT's decision comes in the wake of Libertas suspending its shares after negotiations on a possible £8.5m investment from renewable energy group Avis Energy remained in limbo.

The financial position of Libertas remains unclear until Avis Energy decides whether to invest.

In its most recent statement to the city today Libertas said: The company announces that it has received notice of Grant Thornton UK LLP's resignation as the company's nominated adviser for the purposes of the AIM rules for companies, which will take effect from 21 January 2008.

If within one month following the date of resignation, being 20 February 2009, the company has failed to appoint a replacement nominated adviser, the admission of the company's shares to trading on AIM will be cancelled.'