Naibu Global International Co PLC Update (1687F)
18 Fevereiro 2015 - 5:00AM
UK Regulatory
TIDMNBU
RNS Number : 1687F
Naibu Global International Co PLC
18 February 2015
Press Release 18 February 2015
Naibu Global International Company Plc
("Naibu", the "Company" or the "Group")
Update
Following the announcement made on 9 January 2015, the
non-executive Directors of Naibu are disappointed to report that
they have been unable to obtain any information regarding the
Company's trading operations in China, and therefore they are
currently unable to provide shareholders with any update on the
financial position of the Company. Neither Mr. Lin Huoyan, the
Chairman, nor Mr. Lin Congdeng, executive Director, have responded
to requests from the non-executive Directors to provide such
information.
The non-executive Directors understand that market conditions
have continued to be difficult and negotiations with distributors
still have to be successfully concluded. They believe trade debtors
have increased substantially, but in the absence of further
information from the executive Directors, they are unable to assess
the extent of this or the current financial position of the
Company.
In order to clarify the position, the non-executive Directors
have appointed KPMG to prepare a report on the Group's financial
position, following which the non-executive Directors will decide
what steps to take regarding the continuing business of the Group.
The non-executive Directors have asked Mr Lin to co-operate with
KPMG in the preparation of this report, although as yet, he has not
indicated he will do so. The non-executive Directors are exploring
what further steps they can take to ensure that this report is
prepared in a timely fashion.
The non-executive Directors are endeavouring to restore the
Group to normal operations, with a view to preserving shareholder
value and with the objective of allowing trading in the Company's
shares to resume as soon as practicable.
Further announcements will be made as appropriate; following
resolution of the current management issues, completion of KPMG's
report and of the audit for the year ended 31 December 2014.
- Ends -
For further information:
Naibu Global International Company Tel: +44 (0) 20 7398
Plc 7700
Giles Elliott, Non-Executive Deputy www.naibu.com
Chairman
ZAI Corporate Finance Limited Tel: +44 (0) 20 7060
2220
Tom Price
Media enquiries:
Abchurch Communications
Henry Harrison-Topham / Quincy Allan Tel: +44 (0) 20 7398
7700
naibu@abchurch-group.com www.abchurch-group.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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