METROELECTRIC PLC
("Metroelectric" or the "Company")
Trading Statement
The Company is pleased to announce a trading statement for the period from 1 January 2013 to 31 March 2013.
During the three month period, the Board of Metroelectric has been finalising the development and manufacture of the new Powabyke X-byke range. We are pleased that the new designs (gents and ladies) will be ready for shipment to the UK by early May when the first container of 200 units will be dispatched.
In addition, our partners Wonder EV recently exhibited the new range of Powabyke at the Canton Fair, Guangzhou in China. This has attracted a lot of international interest in the brand that we are now following up.
Whilst the Company continues to be constrained by cash, limiting our ability to fully implement our business plan, the Board is confident that the Company is now moving in the right direction.
The Directors of the Company accept responsibility for this announcement.
--ENDS-
Enquiries:
Metroelectric Plc
Greg Collier
Tel: 07830 182501
Peterhouse Corporate Finance Ltd
Eran Zucker and Fungai Ndoro
Tel: 020 7469 0934