Suspension of Trading

The information contained within this announcement is deemed by the Group to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). 

20 February 2018

SerVision plc

("SerVision" or the "Company")

Suspension of Trading

As announced on 13 February 2018, the Company was required to raise further finance in the near term or face having to convert some of the existing debt into equity. Unfortunately, the positive conversations regarding a loan and equity investment that were ongoing at that time have not yet concluded. The Company was not able to convert some of the existing debt into equity as the conversion price is below the nominal value of the Company's shares and therefore a shareholder meeting would be required to approve a capital reorganisation and also due to the Company's financial position, it would not be in the best interests of the creditor. Whilst those and other conversations are continuing as the Board takes advice on the options available to the Company, there is currently no immediate prospect of any new capital. 

Since the Company is currently in default on at least one of its loans and any refinancing will take some time and will require the agreement of the Company's lenders, the Company has requested an immediate suspension to the trading on AIM of its shares pending clarification of its financial position.

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

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