ADID Armor Des Di

TEMPE, Ariz., Nov. 18, 2014 /PRNewswire/ -- Armor Designs, Inc. (LSE: ADID) ("Armor" or the "Company"), a leading designer, integrator and manufacturer of armor solutions for military, government and commercial use, today provided an update on the recent hearing at the Court of Chancery of the State of Delaware (the "Court") held on Friday, November 7, 2014.  The board of directors of the Company is pleased to report that the Court rebuffed the action of written consent by the Company's former Chairman of the Board and Chief Executive Officer, James St. Ville ("St. Ville"), acting through his wholly-owned company, Hawthorne & York International Ltd ("HYI"), to replace the incumbent board of directors. 

Under consideration by the Court is the legality of St. Ville's actions under the Relationship Agreement entered into by St. Ville, HYI and the Company. The Court concluded that the Relationship Agreement was put in place to protect the rights of minority shareholders, and future hearings are expected to focus on that agreement. A timetable has yet to be set in relation to further hearings to consider the issue.

It is anticipated that trading in the Company's shares on AIM will remain suspended pending further updates in relation to these matters as well as notification of the Company's interim results to June 30, 2014 which have been delayed due to the aforementioned matters.

Further announcements will be made as appropriate.

About Armor Designs, Inc.

Armor Designs, Inc. (ADI) is a knowledge-based, technology-innovation company that develops and manufactures the highest quality, lightest and most cost-effective armor solutions to serve the military, government and commercial sectors on a global basis. We are an international company headquartered in Phoenix, Arizona, and our commitment to state-of-the-art innovation is driven through the application of Finite Elemental Analysis. This methodology eliminates the trial-and-error approach and instead provides a robust platform for a rapid development of armor solutions that can be tailored for any application.

For more information, please visit the Armor Designs web site at www.armordesigns.com. 

Safe Harbor Statement and Disclaimer

This news release includes "forward looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended.  Forward looking statements give our current expectations, opinion, belief or forecasts of future events and performance.  A statement identified by the use of forward looking words including "may," "expects," "projects," "anticipates," "plans," "believes," "estimate," "should," and certain of the other foregoing statements may be deemed forward-looking statements.  Although Armor Designs believes that the expectations reflected in such forward-looking statements are reasonable, these statements involve risks and uncertainties that may cause actual future activities and results to be materially different from those suggested or described in this news release.  Investors are cautioned that any forward-looking statements are not guarantees of future performance and actual results or developments may differ materially from those projected. The forward-looking statements in this press release are made as of the date hereof. The Company takes no obligation to update or correct its own forward-looking statements, except as required by law, or those prepared by third parties that are not paid for by the Company.

Electronic versions of the materials you are seeking to access are being made available on this website by Armor Designs, Inc. ("Armor Designs") pursuant to the AIM rules for companies published by the London stock exchange as a consequence of the fact that the common shares of armor designs are admitted to trading on the AIM market of the London Stock Exchange.

Non-U.S. persons

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SOURCE Armor Designs, Inc.