LZYE Group PLC Statement re Share Price Movement (8476V)
18 12월 2013 - 6:28PM
UK Regulatory
TIDMLZYE
RNS Number : 8476V
LZYE Group PLC
18 December 2013
18 December 2013
LZYE Group plc (the "Company")
Movement in Share Price
The Board of LZYE Group Plc notes the fall in the Company's
share price over the last few days.
The Company is in discussions with a Chinese company regarding a
strategic partnership. If these discussions successfully conclude
then the Chinese company will become LZYE's strategic partner in
China as well as providing ongoing access to finance to fund the
Company's growth in this important market. As part of these
discussions the Chinese company is considering subscribing for new
equity shares in LZYE in order to provide additional working
capital and purchasing shares from ISF Asset Manager Limited, a
substantial shareholder in LZYE. Any such investment is likely to
be at the nominal value of the ordinary shares being 1 pence per
share.
If these discussions are not successful then LZYE will need to
rely on its principal shareholder, ISF Asset Manager Limited, to
provide ongoing financial support, such support has been confirmed
in writing to the Board. The Company will make a further
announcement as appropriate.
The Company also announces that it will be releasing its half
year results for the period to 30 September 2013 on or before 31
December 2013.
For more information, please contact:
LZYE Group plc +44(0)20 7653 9850
Dominic Yeung, Chairman
Michelle Lai, Chief Executive
Zeus Capital (Nominated Adviser and Broker)
Ross Andrews, Andrew Jones +44(0)161 831 1512
NewgateThreadneedle
Graham Herring/Alex White/Heather Armstrong +44(0)20 7653
9850
This information is provided by RNS
The company news service from the London Stock Exchange
END
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