Press Releases
Image Scan Holdings plc - update regarding talks with strategic partner
2 September 2004
In the Company’s Interim Results which were released on 28th June 2004, Mr Ian Johnson, the Chairman, stated: “The Company has received a proposal and is currently in an advanced stage of discussion that may lead to an unnamed party acquiring a strategic holding of less than 30% in the Company's issued share capital by way of an equity injection.”
The Board now announces that talks with the prospective strategic partner referred to in the Interim Results have ended. The Board continues to seek a strategic partner or other sources of long term funding and will provide shareholders with an update at the earliest practicable opportunity.
The Board is close to concluding terms, with a major shareholder for the provision of interim funding by way of a short term loan in order to allow the Company time to conclude a strategic investment by the end of the calendar year.
Ian Johnson, Chairman said “It is very disappointing that negotiations had to be broken off as a consequence of the investor’s change in investment criteria rather than the view on the Company or its prospects. As part of the search process we have a number of interested parties who are now being offered the chance to invest in the business.”
Contact details
| Image Scan Holdings | 01664 503 600 |
| Ian Johnson, Chairman | |
