LightwaveRF Shares Jump 37% After It Inks Distribution Agreement

LONDON (Alliance News) - Shares in LightwaveRF PLC were trading more than a third higher Monday after it said it had signed a distribution agreement with Neonlite Electronic & Lighting (HK) Ltd to distribute its range of lighting controls across 84 countries.

Neonlite will distribute the products under its Ingenium brand; and will manage the sales, marketing and branding of the product range.

The company is initially targeting Germany and France, and expects to roll-out the product across Neonlite's full distribution network during 2015.

LightwaveRF expects the agreement to substantially grow its existing volumes, it said.

Shares in LightwaveRF were trading up 37% at 48.00 pence Monday morning, making them the biggest gainers on AIM.

By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews

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