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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Bnn Technology | LSE:BNN | London | Ordinary Share | GB00BNBNSF91 | ORD 10P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 42.00 | 41.00 | 42.00 | 0.00 | 00:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMBNN
RNS Number : 7809A
BNN Technology PLC
03 January 2018
3 January 2018
BNN Technology plc
("BNN Technology", the "Company" and, together with its subsidiaries and entities that are controlled by the Company, the "Group")
Announcement re: Director's Loan
BNN Technology (AIM: BNN), a London-listed Chinese technology, content and services company announces that, further to its announcement on 24 October 2017, it is continuing its discussions with Mr Darren Mercer relating to the repayment of the outstanding loan of circa GBP450,000 due to the Company by him (the "Loan"). GBP270,000 of the Loan has now been offset by a bonus owed to Mr Mercer which was agreed by the Company in June 2016 (the "Bonus") and which had not been paid to date.
The board of directors of the Company (the "Board") became aware of the agreement to pay Mr Mercer the Bonus in Q2 2017 and it is acknowledged that the Company failed to account for this sum in its annual report for the year ended 31 December 2016, or any subsequent disclosure and the Board is undertaking to investigate this error.
The Company has recently been presented with information which Mr Mercer believes could reduce the amount of the remainder of the Loan. This is now under review and a revised balance of the Loan, together with a revised repayment schedule is expected to be agreed with Mr Mercer shortly.
Additionally, further amounts which were not included in the Loan are also being investigated by the Board, in light of the findings of the PwC Report.
A further announcement will be made in due course.
This Announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014 ("MAR").
ENDS
For further information, please contact:
+44 (0) 156 587 BNN Technology plc 2990 Harry Keiley / Lord Mancroft (Independent Committee) +44 (0) 207 920 Tavistock (Financial PR) 3150 Jos Simson / Jeremy Carey / Andrew Dunn Strand Hanson Limited (Nominated +44 (0) 20 7409 & Financial Adviser) 3494 Simon Raggett / James Spinney / Ritchie Balmer Mirabaud Securities Limited (Broker) +44 (0) 20 7878 Peter Krens 3362
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCBTMMTMBMMTAP
(END) Dow Jones Newswires
January 03, 2018 02:00 ET (07:00 GMT)
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