LED International Holdings Ltd Resignation of Nomad & Resignation of Director (7368E)

TIDMLED

RNS Number : 7368E

LED International Holdings Ltd

20 July 2016

This announcement contains inside information

LED International Holdings Limited

("LED" or the "Company")

Resignation of Nominated Adviser and Resignation of Director

The board of directors of LED announces that the Company's nominated adviser, Allenby Capital Limited, has resigned with immediate effect. Accordingly, the Company's ordinary shares will remain suspended from trading on AIM, inter alia, pursuant to AIM Rule 1, pending the appointment of a replacement nominated adviser.

If the Company fails to appoint a replacement nominated adviser within one month of today's date, admission of the Company's shares to trading on AIM will be cancelled.

LED also announces that Stephen Weatherseed, Non-Executive Director and Chairman, has today resigned from LED's board of directors with immediate effect.

The Company continues to work on its half-yearly report in respect of the six months to 31 December 2015. The board will continue to examine options to achieve value for shareholders and pursue a strategy of developing new energy related businesses, including lease financing.

**Ends**

For further information:

 
 LED International Holdings Limited 
 Stephen Chan - Chief Executive Officer    +852 2243 3100

Notes to Editors:

LED International Holdings Limited and its subsidiaries specialize in the provision of EMC contracts under which the group (the "Group") installs energy saving products in its customers' premises, including lighting and reactance filtering equipment supplied by the Group, and the subsequent savings made by the customers in their electricity charges are then shared between the Group and the customers thereby enabling the Group to generate recurring revenue rather than one-off sales revenue. Historically, the Group's business has been the development, manufacture and sale of low-powered light-emitting diode ("LED") display screens and modules.

Under EMC contracts, the Group provides energy efficiency solutions, including LED lighting, reactance filtering energy saving and other energy efficiency solutions. Specifically, the Group overhauls its customers' existing lighting and power consumption systems (which are based on traditional lighting technology and power generation equipment) with proprietary LED lighting products, reactance filtering equipment and other solutions provided by the Group. These energy efficiency products are installed in customers' premises. The Group bears all the upfront costs associated with the supply and installation of the energy efficiency solutions and these costs are then recouped by sharing in the monthly energy savings generated by the customers' use of the energy efficiency solutions over the period of the contracts. The Group receives revenue from customers on several different payment terms including on a pre-payment, monthly or quarterly basis.

For more information, please visit: http://www.led-intl.com

This information is provided by RNS

The company news service from the London Stock Exchange

END

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July 20, 2016 08:18 ET (12:18 GMT)

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