Result of EGM
February 08 2008 - 5:34AM
UK Regulatory
RNS Number:6056N
IDMoS plc
08 February 2008
For Immediate Release 8th February 2008
IDMoS plc (the "Company")
IDMoS plc (AIM: IDO) ('IDMoS' or the 'Group'), the specialist in disease
detection and monitoring technology, announces that market take up of its
products has been lower than expected in recent weeks, due in part to limited
commercialisation resources, and as a result the Directors expect the
performance of the business to fall significantly short of the market's current
expectations..
As a result the Company and its advisors have determined not to proceed with the
planned issue of 6.6 million shares to raise approximately �1.54 million net of
expenses as announced on 14th January 2008. Accordingly it is the intention to
withdraw the resolution from its planned extraordinary general meeting scheduled
for 11am today.
The Company is actively exploring other options for financing its working
capital requirements including a potential combination with a profitable,
privately held company with whom it has entered into serious early stage
discussions.
A further announcement will be made in due course.
For further information please contact:
IDMoS plc 01382 598440
John Pool, Executive Chairman
Graham Lay, Chief Executive Officer
Buchanan Communications
Tim Anderson +44 (0)207 466 5000
James Montgomerie +44 (0)131 225 9864
This information is provided by RNS
The company news service from the London Stock Exchange
END
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