BNN Technology PLC Announcement of F-1 submission (7143N)
28 October 2016 - 5:00PM
UK Regulatory
TIDMBNN
RNS Number : 7143N
BNN Technology PLC
28 October 2016
28 October 2016
BNN Technology plc
BNN Technology Announces Confidential Submission of Draft
Registration Statement to the U.S. Securities and Exchange
Commission
BNN Technology plc ("BNN" or the "Company"), a Chinese
technology, content and services company, publicly listed on the
London Stock Exchange's AIM market (AIM:BNN), announces that it has
confidentially submitted a draft registration statement on Form F-1
(the "Registration Statement") with the United States Securities
and Exchange Commission (the "SEC") in relation to plans to
register American Depositary Shares ("ADSs"), representing our
ordinary shares, for sale by selling shareholders ("the
Offering").
The number of ADSs proposed to be offered and sold has not yet
been determined. The Offering is expected to commence after the SEC
completes its review process, subject to market and other
conditions.
This announcement is being made pursuant to and in accordance
with Rule 135 under the Securities Act of 1933. This press release
does not constitute an offer to sell or the solicitation of an
offer to buy ADSs or any other securities, nor shall there be any
sale of ADSs in any state or jurisdiction in which such an offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
Shareholders and potential investors should note that the
potential Offering may or may not proceed, and accordingly are
advised to exercise caution when dealing in the securities of BNN
Technology plc.
- ENDS -
For further information, please contact:
BNN Technology plc +44 (0) 1565 872990
Darren Mercer, Chief Executive
Scott Kennedy, Chief Financial
Officer
Stephen Benzikie, Communications
+44 (0) 20 7404
Brunswick Group (Public Relations) 5959
Brian Buckley / Diana Vaughton
Strand Hanson Limited (Nominated +44 (0) 20 7409
& Financial Adviser) 3494
Andrew Emmott / Ritchie Balmer
Mirabaud Securities LLP (Broker) +44 (0) 20 7878
Peter Krens 3362
About the Group
BNN Technology plc is a Chinese technology, content and services
company that builds long-term partnerships to deliver China's
citizens with value-added services, content and evolving
opportunities.
Listed on AIM since 2014 the Group principally engages in
providing technology to partners to facilitate fulfilment of
payments online and on mobile apps through partnerships or
affiliate agreements with corporate and key government partners,
and, developing digital content, both online and mobile. Through
its partnership with Xinhuatong, BNN facilitates mobile payments
and other key services on the Xinhua News mobile app in 12
provinces in China. The Chinese consumer shift to 'life on mobile'
is only just beginning and BNN's platform technology enables urban
and rural communities across China to access exclusive content and
pay for more services online.
The Group employs nearly 300 professionals throughout China.
Forward-looking statements
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended, that involve risks and uncertainties, including statements
regarding the proposed Offering. Actual results may differ
materially from those projected or implied. More information about
potential factors that could affect BNN Technology's business and
financial results is contained in the draft Registration Statement
filed with the SEC. Any forward-looking statement made by BNN
Technology herein, or elsewhere, speaks only as of the date on
which such statement is made. BNN Technology does not intend, and
undertakes no duty, to update any forward-looking statements after
the date hereof to reflect future events or circumstances.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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