ENVA news! Let's see how the market will react tomorrow! Added ENVA to my watchlist for tomorrow. Thanks .
Enova Systems Engages Investec Investment Banking to Achieve U.K. AIM Listing
Monday June 20, 9:00 pm ET
TORRANCE, Calif.--(BUSINESS WIRE)--June 20, 2005--Enova Systems, Inc. (OTCBB:ENVA - News), a manufacturer and developer of electric hybrid and fuel cell drive systems, announces that it has engaged Investec Investment Banking and Securities to introduce the Company to the London Stock Exchange Alternative Investment Market (AIM) and carry out an equity fund raising. Admission to trading on AIM and dealings are currently anticipated to commence in July 2005. Enova intends to offer any securities sold in connection with this AIM admission pursuant to Regulation S promulgated by the U.S. Securities and Exchange Commission.
As a result of Enova's global customer base and its growing presence in the UK and Europe, Enova believes that admission to AIM will enhance the Company's access to London's capital markets, as well as developing the Company's global recognition in both its market sector and the investment community.
Speaking today, Anthony Rawlinson, Chairman of the Board of Enova, said, "I am delighted with the prospective listing of Enova Systems on the Alternative Investment Market and our relationship with Investec. We believe the realization of this goal should allow Enova to accelerate its strategic plan to be a global leader and producer in advanced, medium and heavy-duty hybrid power management and propulsion systems, initially targeted for trucks, buses and delivery vehicles. Enova's hybrid drive systems have commercial benefits in the reduction of fossil fuel usage, as well as benefits to society in the reduction of harmful emissions, greenhouse gases and noise."
This news release contains forward-looking statements relating to Enova Systems and its products. These forward-looking statements are subject to and qualified by certain risks and uncertainties. Such statements do not imply the future success of the Company or its products. These risks and uncertainties and other risks are detailed from time to time in Enova Systems' periodic filings with the Securities and Exchange Commission under the name Enova Systems, Inc., including but not limited to Enova's annual report on Form 10-K for the year ended December 31, 2004. Enova assumes no duty to update these statements.
Contact:
