8 Nov 2016 07:00
GLOBAL INVACOM GROUP LIMITED
(Incorporated in Singapore)
(Company Registration No: 200202428H)
CONSOLIDATION OF MANUFACTURING ACTIVITIES IN THE PEOPLE'S REPUBLIC OF CHINA
The Board of Directors (the "Board") of Global Invacom Group Limited (the "Company", and together with its subsidiaries, the "Group") wishes to announce that the Group is exploring the consolidation of the Group's manufacturing activities in the People's Republic of China under the Company's wholly-owned subsidiary, Global Invacom Manufacturing (Shanghai) Co., Ltd ("Shanghai Subsidiary"), in order to optimise manufacturing cost advantages over the total production lines.
The aforementioned consolidation may however result in the closure and cessation of Radiance Electronics (Shenzhen) Co., Ltd ("Shenzhen Subsidiary"), with critical equipment and customer-related inventory from the Shenzhen Subsidiary to be transferred to the Shanghai Subsidiary.
The Board would like to emphasise that it is still preliminary to indicate whether the aforementioned consolidation will materialise, or the conditions upon which it will proceed. The Company will announce any material developments relating to the above as and when appropriate. Shareholders and other investors are reminded to exercise caution when dealing in the securities of the Company and should consult their stockbrokers, bank managers, solicitors, accountants or other professional advisers if they are in doubt about the actions that they should take.
The information communicated in this announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014.
BY ORDER OF THE BOARD
Anthony Brian Taylor
Executive Chairman
8 November 2016