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DJ Photonstar LED Group PLC Update on PhotonStar LED Limited

TIDMPSL

RNS Number : 9248H

Photonstar LED Group PLC

20 November 2018

20 November 2018

PhotonStar LED Group Plc

Update on PhotonStar LED Limited

PhotonStar LED Group Plc (AIM: PSL, the "Group"), announces that further to the announcement of 31 October 2018, on 19 November 2018 a meeting of shareholders and a virtual meeting of creditors of the Group's wholly owned subsidiary PhotonStar LED Limited ("PhotonStar LED") took place, at which PhotonStar LED was placed into liquidation.

John Cullen of Menzies LLP, who is acting as liquidator to PhotonStar LED, will now seek to realise value in PhotonStar LED's assets for the benefit of its creditors.

The Group's Directors are still considering both funding and strategic options for the Group's remaining subsidiary PhotonStar Technology Limited. Further announcements will be made as soon as practicable.

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.

For further information:

 
 PhotonStar LED Group Plc (www.photonstarled.com) 
  James McKenzie - Group Chief Executive             +44 (0)2381 230381 
 
 Northland Capital Partners Limited 
  David Hignell/Gerry Beaney/Jamie Spotswood 
  (Corporate Finance) 
  Rob Rees (Corporate Broking)                       +44 (0)20 3861 6625 
 
 
 Peterhouse Capital Limited 
  Duncan Vasey/ Fungai Ndoro                         +44 (0)20 7469 0930 
 

About PhotonStar LED Group Plc

PhotonStar LED Group Plc is a leading British designer and manufacturer building monitoring & control solutions. The Group's proprietary technology Halcyon(TM) is a scalable, secure wireless IoT platform for retrofit into commercial buildings, for energy reduction, asset monitoring & control, and real time environmental, behavioral and energy insights. Halcyon V2 supports legionella reporting, emergency lighting compliance reporting, a powerful analytics and rules engine with notifications of issues by SMS and email.

PhotonStar is based in Romsey, Hampshire.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

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November 20, 2018 07:14 ET (12:14 GMT)