SEV Servision

TIDMSEV

RNS Number : 3616Q

SerVision plc

05 June 2018

5 June 2018

SerVision plc

("SerVision" or the "Company")

Update re. proposed sale of SerVision Limited and suspension

Further to the announcement released by the Company on 24 May 2018, the Company announces that the Jerusalem Court has set the date of 10 June to hear the Trustees' proposal for the disposal of SerVision Limited, the Company's main operating subsidiary, to a third party. The Trustees have already secured the approval of the creditors of SerVision Limited for their proposal and the disposal is expected to occur before the end of June 2018.

With the Company ranking behind both the secured creditors and other general creditors, the Directors of the Company continue to be of the view that it is extremely unlikely that any value will be returned to the Company from its debts and shareholding in SerVision Limited.

The Company's ordinary shares remain suspended from trading on AIM.

Further updates will be provided by the Company at the appropriate time.

Certain terms used in this announcement shall have the same meaning as the definitions in the Company's announcement released on 18 April 2018.

-ends-

For further information:

 
SerVision plc 
Eitan Yanuv (Finance Director)                        +44 (0)20 3328 
 Antony Legge (Non-Executive Director)                 5656 
Allenby Capital Limited (Nominated                    +44 (0)20 3328 
 Adviser and Broker)                                            5656 
Nick Athanas 
 John Depasquale 
 
 
Leander PR (Financial PR) 
                             +44 (0)7795 168 
Christian Taylor-Wilkinson               157 
 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

MSCUGUCAQUPRGUA

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June 05, 2018 06:57 ET (10:57 GMT)

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