TIDMESTL

RNS Number : 9755J

Enhanced Systems Technologies Ltd

18 June 2014

Enhanced Systems Technologies Limited (Subject to Deed of Company Arrangement)

("ESTL," or "the Company")

Cancellation of Admission to Trading on AIM

Enhanced Systems Technologies Limited (Subject to Deed of Company Arrangement) (previously Wasabi Energy Limited), advises that pursuant to AIM Rule 41, the Company's shares will be cancelled from trading on AIM at 7:00 a.m. on 24 June 2014 due to having been suspended from trading for six months.

In regard to the Company's ASX listing, the Company will provide a submission to the ASX with regard to the recapitalisation of the Company, a key component of which is the proposed Rights Issue previously announced. It is anticipated that the ASX will approve the re-instatement to official quotation of the Company's securities, subject to certain conditions with regard to the listing rule requirements for minimum cash amounts, shareholder spread and the lodgement of certain documents such as the 20 largest shareholders at the conclusion of the Rights Issue. The directors believe that they will meet all of the required conditions at the conclusion of the Rights Issue and anticipate the securities of the Company will be re-instated approximately 10 business days after these conditions have been met to trading on the ASX.

The Company will maintain its Depository Interest register with Computershare. While there will be no market in the UK, Depositary Interest holders will be able to settle private trades via CREST.

If a Depositary Interest holder wishes to trade on the ASX they should contact Computershare to transfer their holding to the Australian register.

For further information, please contact:

 
 Enhanced Systems Technologies Limited 
 John Byrne, Executive Chairman               +61 (0)3 9236 2800 
 
 Cenkos Securities - UK Financial Advisor, 
  Broker & NOMAD 
 Beth McKiernan/Neil McDonald                 +44 (0)131 220 6939

This information is provided by RNS

The company news service from the London Stock Exchange

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