TIDMPSL

RNS Number : 6174J

Photonstar LED Group PLC

13 September 2016

13 September 2016

PhotonStar LED Group Plc

Working Capital Facility

PhotonStar LED Group Plc (AIM: PSL, "PhotonStar" or "the Group"), the British designer and manufacturer of smart LED lighting solutions, is pleased to announce that it has extended its GBP1.65m working capital facility with ABN AMRO Commercial Finance PLC which was announced on 30 November 2015 (the "ABN AMRO Facility").

The ABN AMRO Facility was implemented to provide a greater flexibility to the Group in its drawdown arrangements and in the concentration limits applied for larger customers.

The quantum available under the terms of the ABN AMRO Facility remains unchanged but its applicability has now been extended in order to support the Group's subsidiary company PhotonStar Technology Limited ("PST"), which has recently been focussing on the development of PhotonStar's Halcyon(TM) business.

James McKenzie, the CEO of PhotonStar commented that:

"We are delighted that ABN AMRO Commercial Finance PLC has agreed to provide a much wider working capital facility which will provide further support of the expansion of the Halcyon(TM) business which we see as a key growth driver for the Group."

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.

For further information:

 
                                                      +44 (0)2381 
   PhotonStar LED Group Plc (www.photonstarled.com)     230381 
   James McKenzie - Group Chief Executive 
 
                                                       +44 (0)20 3861 
   Northland Capital Partners                           6625 
   Patrick Claridge/David Hignell/Margarita 
    Mitropoulou (Corporate Finance) 
   John Howes/Rob Rees (Corporate 
    Broking)

About PhotonStar LED Group Plc

PhotonStar LED Group Plc is a leading British designer and manufacturer of intelligent lighting & building control solutions. The Group's proprietary technology Halcyon(TM) is a scalable, secure wireless IoT platform for retrofit into commercial buildings, for energy reduction, asset monitoring & control, and real time environmental, behavioral and energy insights.

PhotonStar is based in Romsey, Hampshire with a manufacturing facility in Wales.

This information is provided by RNS

The company news service from the London Stock Exchange

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September 13, 2016 02:00 ET (06:00 GMT)

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