World Trade Systems PLC Update on listing, new business and address (1550C)
17 1월 2018 - 9:26PM
UK Regulatory
TIDMWTS
RNS Number : 1550C
World Trade Systems PLC
17 January 2018
World Trade Systems PLC
17 January 2018
WORLD TRADE SYSTEMS PLC ("WTS plc" or the "Company")
UPDATE ON LISTING, NEW BUSINESS AND REGISTERED ADDRESS
The board of WTS plc is pleased to announce the following update
on the Company's listing, ongoing development of new business
activities and change of registered address.
1) Listing and New Company
We are pleased to inform you that the Company is now proposing
to apply to list on The International Stock Exchange (TISE) by way
of a transaction involving a new company (NewCo plc, as defined
below). TISE is a global exchange, internationally recognised and a
regulated market with a premier location headquartered in the
British Isles. Shareholders will be kept informed on significant
developments during this time. We look forward to all shareholders
support in this endeavour.
With effect from 16 January 2018, the Company has appointed
Carey Olsen Corporate Finance Ltd (COCFL) as TISE listing sponsor
to NewCo plc in connection with the proposed listing. As sponsor,
COCFL will act as an intermediary between the Company, NewCo plc
and TISE in relation to a proposed TISE application and will be
responsible for preparing and lodging that application. BDO will
remain financial advisor to WTS plc as the Company maintains its
suspended listed status on the premium segment of the London Stock
Exchange.
In relation to the application for listing on TISE, NewCo plc
will be incorporated in the United Kingdom. It is intended that
NewCo plc will acquire all WTS plc business and assets (subject to
the requirement of the Listing Rules and subject to approval of WTS
plc shareholders). It is expected that WTS plc shareholders will
receive NewCo plc shares as a dividend in specie in respect of the
sale of WTS plc business and assets to NewCo plc. NewCo plc will
apply to TISE in relation to listing NewCo plc's shares. Please
await further details which will be provided in a circular to
shareholders as the application progresses further.
It is intended that the directors of NewCo plc will be Mr Tony
Hoskinson (Non Executive Chairman), Mr AKM Ismail and Ms Ellen Lu
(who are also directors of WTS plc) and additionally Mr Malcolm
Groat.
Mr Malcolm Groat will be appointed to the board of NewCo plc as
a non-executive director and be a member of the Audit, Nomination
and Remuneration board committees. Mr Groat has worked for many
years as a consultant to companies in technology, natural
resources, and general commerce. Previously, following an early
career with PwC in London, he held CFO, COO, and CEO roles in
established international businesses including Executive Chairman
at Med Mining and Minerals Ltd and Group FD and COO of E C Harris
LLP. Mr Groat is a Fellow of the Institute of Directors, Fellow of
the Royal Society for the encouragement of Arts, Manufactures and
Commerce, and Fellow of the Institute of Chartered Accountants in
England and Wales. He holds degrees from the universities of St
Andrews (MA) and Warwick (MBA).
Mr Groat has commented: "I am delighted to be joining the Board
of NewCo plc which will be incorporated to acquire the business and
assets of World Trade Systems plc, especially at a time as the
Company begins to implement an aspiring future growth strategy. I
am confident that I am joining a company that will combine both an
excellent management team with a well-defined strategy for
expanding its business internationally. I am looking forward to
helping NewCo achieve a vision to become a 'gateway to China', not
just within the health food sector, but expanding into wider health
services through an expanding portfolio of European and
international partners."
2) New Business Activities
Further to the Company's previous announcement dated 27 December
2017, the Board of WTS plc is pleased to announce an update on the
development and implementation of the Company's business strategy
to expand its international revenue generation from healthcare
services in addition to healthcare products.
Further progress is being made on this expanded global strategy
in relation to the previous announcement regarding Humanio GmbH (a
German company involved in the operation of a day clinic for
biological medicine, including the provision of accommodation and
incorporating a cell therapy clinic and analysis laboratory for the
production of internationally sought-after cell preparations).
Having come to an agreement with Humanio to bring clients from Asia
to Germany, WTS plc can now announce it has begun to implement this
objective and plans to incorporate a new wholly foreign-owned
subsidiary in Taiwan ('WTS Taiwan') which will assist in the
marketing and sales of the Humanio service to Taiwanese customers.
WTS Taiwan hopes to begin developing its operations and commence
trading this quarter.
3) Change of Registered Address
World Trade Systems plc announces that its registered office has
changed to Lexham House, 14A Hill Avenue, Amersham, United Kingdom,
HP6 5BW with effect from 16 January 2018.
For further information, please contact: AKM Ismail, Executive
Director: akm.ismail@gmail.com
Information on WTS plc
WTS plc is a global health company headquartered in the UK with
a vision to be a 'gateway to China' for foreign health food
companies. Currently WTS plc's main business operations are the
development, and distribution of health food products targeting
mid/high end consumers. Having previously had no business
activities for a number of years, the Company began its current
business activities in July of 2016 when WTS China was established
and began operations.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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January 17, 2018 07:26 ET (12:26 GMT)
World Trade Systems (LSE:WTS)
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