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AFS Amiad Water Systems Ltd

364.00
0.00 (0.00%)
Last Updated: 00:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Amiad Water Systems Ltd LSE:AFS London Ordinary Share IL0010943905 ORD ILS0.5
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 364.00 340.00 380.00 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Amiad Water Systems Ltd Update regarding French certification (7867K)

12/07/2017 7:00am

UK Regulatory


Amiad Water Systems (LSE:AFS)
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TIDMAFS

RNS Number : 7867K

Amiad Water Systems Ltd

12 July 2017

12 July 2017

Amiad Water Systems Ltd.

("Amiad" or the "Company")

Update regarding French certification

Further to the announcement of 31 May 2017, Amiad (AIM: AFS), a leading global producer of water treatment and filtration solutions, provides the following update regarding the previously disclosed issues with the certification used by its French Subsidiary company (the "Subsidiary") to confirm compliance of certain products ("Products"), sold by the Subsidiary, with the French Attestation de Conformité Sanitaire ("ACS") standard.

Following an initial investigation, the Company has now put in place new management oversight of its French and European operations, and has appointed Amiad's VP Operations & COO as interim President of the Subsidiary. The former President of the Subsidiary is leaving the Company with immediate effect. In addition, application for the requisite ACS certification for the relevant Products has now been submitted. Amiad continues to work with its customers to minimise the disruption to ongoing projects and is in the process of suppling information to, and answering queries from, the relevant authorities, such as the French Ministry of Health and Solidarity.

The Company expects there to be some exceptional legal and other costs related to this issue incurred during 2017. However, based on currently available information, the Company does not anticipate there to be a material impact on the Company's results for the 2017 financial year. Trading otherwise continues in line with management's expectations. Further details will be provided in the Company's interim results, which are due to be announced in September 2017.

Enquiries

 
 Amiad Water Systems Ltd. 
--------------------------------  ----------------- 
 Dori Ivzori, Chief Executive 
  Officer 
  Irit Ben-Dov, Chief Financial 
  Officer                          +972 4 690 9500 
--------------------------------  ----------------- 
 
 Stifel Nicolaus Europe 
  Ltd. 
--------------------------------  ----------------- 
 Stewart Wallace, Ben 
  Maddison                         +44 20 7710 7600 
--------------------------------  ----------------- 
 
 Luther Pendragon Ltd. 
--------------------------------  ----------------- 
 Harry Chathli, Claire 
  Norbury                          +44 20 7618 9100 
--------------------------------  ----------------- 
 

About Amiad

Amiad Water Systems (AIM: AFS) is a leading global producer of automatic, self-cleaning water treatment and filtration products and systems. Through its engineering skills and ability to innovate, Amiad provides cost-effective "green" solutions for the industrial, municipal, irrigation, oil & gas and ballast water markets. In these segments its patented products are being integrated into the core of systems for filtration and water treatment, micro irrigation and membrane protection, wastewater and potable water treatment, cooling systems and sea water filtration.

Headquartered in Israel, Amiad provides these solutions through nine subsidiaries and a comprehensive network of over 170 distributors to customers in more than 80 countries.

For additional information or product details, please visit www.amiad.com.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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(END) Dow Jones Newswires

July 12, 2017 02:00 ET (06:00 GMT)

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