26 Jul 2013 17:57
VPhase PLC
26 July 2013
VPhase plc ("VPhase" or the "Company")
Further to the announcement made on 12 July 2013 in which VPhase announced that it had filed at Court an intention to appoint an Administrator, it was stated therein that the appointment of an Administrator would become effective in the next ten (business) days if no funding option materialised. Vphase is pleased to announce that it has today received from the Court an extension to this timetable of a further ten business days up until 9 August 2013.
Shares in the Company will continue to be suspended from trading on AIM until further notice.
A further announcement will be made in due course.
For further information:
VPhase plc
Rick Smith, Chief Executive Officer +44 (0) 151 348 2100
www.vphase.co.uk
Panmure Gordon +44 (0) 20 7886 2500
Hugh Morgan / Callum Stewart www.panmure.com
Corporate Finance
Adam Pollock
Corporate Broking
Notes to Editors:
About VPhase
VPhase plc is an energy efficiency technology company that launched the first range of domestic voltage optimisation devices in the UK. The VPhase range of products lowers the voltage in the home, reducing the energy consumption of many electrical appliances, saving money and reducing carbon emissions.
The VPhase device:
- has been proven to save up to 12% off home electricity bills;
- is easily installed by a qualified electrician;
- does not require a change in lifestyle or electricity supplier;
- is low cost, with a typical payback of under 5 years;
- has a 5 year manufacturer's warranty and an expected lifespan in excess of 25 years;
- can save up to 4.5 tonnes of CO2 over its 25+ year life;
- attaches to the consumer unit (fuse box) and regulates the voltage to 220 volts;
- is the next most affordable and effective green option for the home, after insulation.
The VPhase range of products have been extensively tested with independent verification supporting the saving claims, including an Ofgem approved CERT demonstration action, social housing trials and a range of independent consumer trials. Many electrical appliances in the home will benefit from having their voltage optimised and reduced, including fridges, freezers, central heating pumps, televisions, washing machines, vacuum cleaners, etc. - and even 'energy-saving' light bulbs. As well as reducing the homes electricity bill, there is evidence that the life of electrical appliances can be extended by the use of this product; light bulbs in particular, have demonstrated at least a doubling of operating life when on a voltage optimised circuit.
Web: www.vphase.co.uk
Facebook: http://on.fb.me/cUBnek
Twitter: www.twitter.com/vphase
LinkedIn: http://linkd.in/qqbyYS
YouTube: www.youtube.com/vphase
This information is provided by RNS
The company news service from the London Stock Exchange
END