PSL Photonstar Led

TIDMPSL

RNS Number : 3888U

Photonstar LED Group PLC

28 March 2019

28 March 2019

PhotonStar LED Group PLC

("PhotonStar" or the "Company")

Update regarding upcoming General Meeting

On 13 March 2019, the Company announced that it had posted a circular to shareholders containing a notice convening a General Meeting in connection with the proposed orderly wind down of the Company's operating business (the "Circular") and seeking from shareholders, amongst other things, authority to raise further funds.

The Company draws shareholders attention to paragraph 2 of the Circular, 'Background to the Proposals':

Should the Proposals be voted down, the Directors will be forced to consider the viability of the Company's future.

Shareholders should also note that the Directors Conditional Subscription, which was announced on the 6(th) March 2019, and the Conditional Issue of Equity which was issued on the 19 March 2019, are both conditional upon the resolutions being passed at the General Meeting. Therefore, these funds will not be available to the Company if the resolutions are not passed. No other issue of shares has been contemplated by the Directors at this time.

The Directors therefore urge Shareholders to approve the Resolutions proposed at the General Meeting on the 5th April 2019.

Unless otherwise defined herein, capitalised terms used in this announcement shall have the same meanings as defined in the Company's Circular dated 13 March 2019.

For further information:

PhotonStar LED Group Plc (www.photonstarled.com) +44 (0)20 3198 2554

Martin Lampshire, non--executive Director

Allenby Capital Limited (nominated adviser) +44 (0)20 3328 5656

John Depasquale / Nick Naylor

Peterhouse Capital Limited (sole broker) +44 (0)20 7469 0930

Lucy Williams / Duncan Vasey

END

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END

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(END) Dow Jones Newswires

March 28, 2019 13:02 ET (17:02 GMT)

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