Quarterly Update Pursuant to Rule 1313(2)

RNS Number : 8373M

Global Invacom Group Limited

14 May 2020

 

14 May 2020 

Global Invacom Group Limited

("Global Invacom", the "Company" or the "Group")

Quarterly Update Pursuant to Rule 1313(2)

Global Invacom (SGX: QS9) (AIM: GINV), the global provider of satellite communications equipment and electronics, notes as per its announcement dated 5 June 2018 in relation to the notification of inclusion on the Watch-list pursuant to the minimum trading price ("MTP") entry criterion pursuant to Listing Rule 1311(2) with effect from 5 June 2018.

Pursuant to Rule 1313(2) of the Listing Manual of the SGX-ST, the Company must, for the period in which it remains on the Watch-list, provide the market with a quarterly update on its efforts and the progress made in meeting the exit criterion of the Watch-list. 

Please refer to the announcement on 14 May 2020 on the business update on the Group's financial performance and position for the quarter ended 31 March 2020.

On 11 May 2020, the Singapore Exchange Regulation announced that it is removing the MTP rule for Mainboard issuers with effect from 1 June 2020.  Accordingly, the Company will no longer need to satisfy the exit criteria for removal from the MTP watch-list and will no longer be required to provide quarterly updates pursuant to Rule 1313(2) of the Listing Manual of the SGX-ST.

Notwithstanding the foregoing, the Board would like to assure the shareholders of the Company that the Company will continue to comply with its continuing disclosure obligations to keep shareholders updated should there be any material developments (financial or otherwise) relating to the Company or the Group. Taking into account investors' expectations, its competitive environment and long-term business strategy, the Company may provide voluntary business updates to shareholders as and when necessary.

For further information, please contact:

Global Invacom Group Limited	www.globalinvacom.com
Matthew Garner, Chief Financial Officer	Tel: [phone] Tel: [phone]
finnCap Ltd (Nominated Adviser and Joint Broker)	www.finncap.com
Christopher Raggett / Matthew Radley (Corporate Finance)	Tel: [phone]
Mirabaud Securities LLP (Joint Broker)	www.mirabaud.com
Peter Krens (Equity Capital Markets)	Tel: [phone]
Vigo Communications (Media & Investor Relations)	www.vigocomms.com
Jeremy Garcia / Charlie Neish	Tel: [phone]
[e-mail]

About Global Invacom Group Limited

Global Invacom is a fully integrated satellite equipment provider with six manufacturing plants across China, Israel, Malaysia, UK and the US. Its customers include satellite broadcasters such as BSkyB of the UK and Dish Network of the USA and Data over Satellite providers including Hughes Network Systems, Viasat and Gilat Satellite Networks.

Global Invacom provides a full range of antennas, LNB receivers, transceivers, fibre distribution equipment, transmitters, switches and video distribution components and electronics manufacturing services in satellite communications as well as manufacturing services in military, medical, and consumer electronics industries. Following the acquisition in 2015 of Global Skyware, a leading US ‐ based designer and supplier of satellite antennas products and services, the Company became the world's only full ‐ service outdoor unit supplier.

Global Invacom is listed on the Mainboard of the Singapore Exchange Securities Trading Limited and its shares are admitted to trading on the AIM Market of the London Stock Exchange.

For more information, please refer to  www.globalinvacom.com

 

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