CUS Customvis

 

TIDMCUS 
 
RNS Number : 2221M 
CustomVis plc 
19 May 2010 
 
                                                                     19 May 2010 
 
                                  CustomVis plc 
                         ("CustomVis" or "the Company") 
 
        Further re. Suspension of trading on AIM and Directorate Change 
 
Further to the announcements made on 19 and 22 April 2010 the Board of the 
Company announces that they are working closely with the Administrator of the 
Company's principal Australian subsidiary, CLVR Pty Ltd ("CLVR") and a number of 
parties regarding the Company's major technology asset, the Pulzar Z1 refractive 
laser. 
 
On 18 May 2010 the Company, as the largest creditor of CLVR, received notice 
from the Administrator convening a Second Meeting of the Creditors of CLVR on 25 
May, 2010. 
 
The Administrators have indicated that the alternatives available for Creditors 
to consider at this meeting are as follows: 
·      CLVR to execute a deed of company arrangement ("DOCA"); 
·      the administration to end; or 
·      CLVR to be wound up/liquidated. 
In addition, the Creditors of CLVR may resolve to adjourn the meeting for up to 
45 business days. 
 
 In the correspondence received from the Administrator the Company notes 
that at the time of writing to Creditors no proposal for a DOCA had been 
received by the Administrator.  The directors of CustomVis are not aware of any 
DOCA being registered since the date of the Administrator's correspondence. 
 
 Furthermore, at the time of writing to creditors, the Administrator stated 
that it is their opinion that it would be in creditors' interest for CLVR to be 
liquidated. 
 
 The Company will seek to update Shareholders following the 
Second Meeting of Creditors. 
 
 Directorate Change 
 
The Company also advises that it has accepted the resignation of Mr Stuart 
Usher, non-executive director, who was appointed to the Board on 11 February 
2010, with immediate effect. Mr Usher has resigned to pursue other business 
interests. 
 
                                     -ends- 
 
For further information, please contact: 
 
+---------------------------------+---------------------------------+ 
| CustomVis plc                   |                                 | 
+---------------------------------+---------------------------------+ 
| Simon Carroll, Chairman         |                 +61 419 304 906 | 
| Paul van Saarloos, CEO          |                 +61 410 497 456 | 
+---------------------------------+---------------------------------+ 
|                                 |                                 | 
+---------------------------------+---------------------------------+ 
| Merchant John East Securities Limited                             | 
+-------------------------------------------------------------------+ 
| David Worlidge / Simon Clements |                   020 7628 2200 | 
+---------------------------------+---------------------------------+ 
|                                 |                                 | 
+---------------------------------+---------------------------------+ 
| Leander PR                      |                                 | 
+---------------------------------+---------------------------------+ 
| Christian Taylor-Wilkinson      |                   07795 168 157 | 
+---------------------------------+---------------------------------+ 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 FURGMGMKKLFGGZM 
 

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