DJ Photonstar LED Group PLC Update on PhotonStar LED Limited
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.
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(END) Dow Jones Newswires
November 20, 2018 07:14 ET (12:14 GMT)