Trading Statement
February 12 2009 - 4:15AM
UK Regulatory
TIDMAINC
RNS Number : 2102N
Applied Intellectual Capital Ltd
12 February 2009
12 February 2009
APPLIED INTELLECTUAL CAPITAL LIMITED
("AIC" or the "Company")
BLAB and Communications Update
BLAB Update
AIC has previously reported that it is developing an advanced bipolar lead acid
battery "BLAB" and that it had executed an MOU with an entity in the PRC ("PRC
Partner") for the commercialization of BLABs.
AIC is pleased to announce that independent off-site testing of prototype
batteries is close to completion and that prototypes have met or exceeded AIC's
performance targets. Testing will continue during February.
AIC is working towards execution of contracts with PRC Partner during Q1 2009,
subject to negotiation of detailed terms and verification by PRC Partner of
performance acceptable to it during the independent testing.
Communications and Rights after Cancellation of Trading
AIC has also previously announced the resignation of its NOMAD effective 3 March
2009, published a circular to shareholders dated 19 January 2009 calling for the
voluntary cancellation of trading of the Company's shares on AIM by shareholder
vote, and provided a working capital update on 10 February 2009.
It is in this context that AIC is seeking to clarify its position on
communications and shareholder rights should it cease to trade on AIM, as
follows:
* AIC is seeking to retain its corporate structure, its Jersey domicile and its
Articles of Association. Copies of AIC's Articles are available on its website
(www.apicap.com) from where they can be downloaded;
* Annual audited consolidated financial statements including Balance Sheet, Income
Statement, Cash Flow and Changes in Equity along with Footnotes and the opinion
of the independent accountants, accompanied by a CEO letter outlining business
developments, will be mailed to shareholders with the notice of Annual General
Meeting;
* Quarterly unaudited consolidated financial statements including Balance Sheet,
Income Statement, Cash Flow and Changes in Equity will be mailed to
shareholders. Accompanying this report, will be a CEO letter outlining business
developments;
* We will maintain our July 31 year end. However, we can assist fund managers who
maintain books on a different calendar with understanding appropriate key
financial information that will enable them to make their internal assessment of
value for their books.
The Company wishes to remind all shareholders that proxy votes need to be
submitted by 11a.m. Pacific Standard Time on Monday 15 February 2009.
ENQUIRIES:
AIC : Stephen Clarke:+1 510 239 0025
Mirabaud Securities: Peter Krens:+44 (0) 207 878 3362
Ambrian Partners: Marc Cramsie+44 (0) 207 634 4700
This information is provided by RNS
The company news service from the London Stock Exchange
END
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