16th Jun 2015 07:00
Sorbic International Plc
("Sorbic" or "the Company")
Resignation of Nominated Adviser
The Company announces that finnCap Ltd, the Company's Nominated Adviser has resigned with immediate effect.
The Company was suspended on 1 May 2015 and continues to investigate the transfer of funds by Mr Wang, the former CEO of the Company. Further updates will be made in due course.
Pursuant to Rule 1 of the AIM Rules, in the event that a Nominated Adviser is not appointed within a month, the Company's admission to trading will be cancelled.
CONTACTS
For further information: | |
Sorbic International plc | Tel: +44 (0)7768 031 454 |
John McLean, Chairman | www.sorbicinternational.com |
Hybridan LLP (Broker) | |
Claire Louise Noyce | Tel: +44 (0) 20 3713 4581 |
Media enquiries:
Abchurch Communications | |
Henry Harrison-Topham / Canace Wong | Tel: +44 (0)20 7398 7714 |
www.abchurch-group.com |
Notes to Editors:
About Sorbic International plc
Sorbic International's principal activity is the production and sale of the food preservatives Sorbic Acid and Potassium Sorbate from its base in Linyi City, Shandong Province, Peoples Republic of China. Approximately half of Sorbic International's production is sold to overseas markets and half into the Chinese domestic market.
Sorbic Acid is a naturally occurring organic compound that is used in all kinds of foods for its anti-decomposition and anti-fungus function and also in grains, medicines, cosmetics, toothpaste, tobacco, animal feed, latex, paper-manufacturing and pesticides. Potassium Sorbate is used to inhibit moulds and yeasts in many foods, such as cheese, wine, yogurt, dried meat, baked goods, cosmetics and pharmaceuticals.
Sorbic International operates through its wholly owned subsidiary Linyi Van Science and Technique Co. Ltd ("LVST"). www.sorbicinternational.com
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