(LED.L) LED International Holdings Ltd Buy/Sell

RNS Number : 9878W LED International Holdings Ltd 06 August 2009

06 August 2009

LED International Holdings Limited

("LED" or the "Company")

Result of AGM

LED announces that at the Company's annual general meeting, held in the People's Republic of China earlier today, all the resolutions put forward to the meeting were duly passed.

As outlined in the Company's final results released on 13 February 2009 (the "Final Results"), LED has continued to implement a strategy to maximise the winning of new contracts, whilst also working to diversify the Company's product range and control costs.

Since the Final Results, the Company has continued to take steps to improve, where possible, the Company's production facilities in order to reduce costs, in the face of increasingly difficult economic conditions by way of increasing the production efficiency and, in so doing, reducing the costs of production. In addition, research has been undertaken to further the development of higher-value LED products, such as LED traffic lighting technology, which the Company believes is a key growth and niche market, with lower competitive barriers to entry. In particular, the Company is in the process of conducting negotiations with the Research Institute of Highway Ministry of Communications, a division of the Chinese Government's Traffic Department, regarding the development of two projects relating to the use of LED products for road traffic purposes.

The North Point project, in Hong Kong, has progressed since the Final Results and the installation and fittings, as described under the original contract have been finalised and the project owner completed its technical inspections in late July 2009. In addition to the work defined under the original contract, further work was subsequently identified and undertaken by LED. The Company expects to receive the final technical sign off, a certificate of completion and final payment in the near future.

Furthermore, the Company is confident in its ability to remain resilient throughout current trading conditions, and continues to focus its efforts on developing opportunities both within China and with a wide variety of international counterparties, with a significant potential sales pipeline.