BNN Technology PLC Announcement of formal process for Nasdaq listing (7144N)
28 October 2016 - 5:03PM
UK Regulatory
TIDMBNN
RNS Number : 7144N
BNN Technology PLC
28 October 2016
28 October 2016
BNN Technology plc
BNN Technology Announces Formal Process for Potential Nasdaq
Stock Market Listing Has Begun
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
submitted an initial application to list its American Depositary
Shares ("ADSs") on the Nasdaq stock market. Trading in the
Company's shares on AIM is not affected in any way by this
filing.
Darren Mercer, Chief Executive of BNN Technology, said:
"We are delighted to have begun the Nasdaq listing application
process that initiates the formal process towards our potential
future Nasdaq listing. Whilst we are in the hands of the Nasdaq
listing team in terms of next steps, we are aiming to expedite the
process as quickly as possible."
- 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
Note of Caution
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 listing of our shares on Nasdaq may or may not proceed,
and accordingly are advised to exercise caution when dealing in the
securities of BNN Technology plc.
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. Actual results may
differ materially from those projected or implied. 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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