Business
Pre-close Update
Pre-close Update.
About this update from Cellbxhealth Plc
[{"type":"text","content":"\n Angle PLC\n13 November 2007\n\n\nFor Immediate Release 13 November 2007\n\n\n\n ANGLE plc\n\n ('ANGLE' or the 'Company')\n\n\n Pre-close update\n\n\nThe Board of ANGLE is pleased to provide the following pre-close update ahead of\nits interim results for the six months ended 31 October 2007.\n\n\nSolid progress has been made within the portfolio of Venture companies. In order\nto produce significant shareholder value in the future, large equity stakes are\nbeing retained in these potentially high growth portfolio companies. However,\nthe introduction of third party investors is enabling ANGLE to reduce its\nongoing cash contribution as well as demonstrating value on the ANGLE balance\nsheet.\n\n\nAs previously announced, portfolio company Geomerics completed a financing which\nlead to an increase in the net asset value of ANGLE's holding of £4.0 million.\n\n\nANGLE expects to report an overall profit from its venture investment operations\nin the first half.\n\n\nThe Management Services business is trading ahead of expectations and is\ncontributing cash to fund investment activity. Cash balances at 31 October 2007\nwere ahead of management's expectations.\n\n\nANGLE will announce its interim results in January 2008 when a fuller report on\nprogress will be provided.\n\n\nEnquiries:\nANGLE plc 01483 295830\nAndrew Newland, Chief Executive\nIan Griffiths, Finance Director\n\nCollins Stewart Europe Limited 020 7523 8350\nMark Connelly\n\nScott Harris 020 7653 0030\nStephen Scott, James O'Shaughnessy, Harry Dee\n\nBuchanan Communications 020 7466 5000\nRichard Darby, Suzanne Brocks, James Strong\n\n\n\nNotes to Editors\n\nFounded in 1994, ANGLE is an international venture management company focusing\non the commercialisation of technology and the development of technology-based\nindustry. ANGLE creates, develops and advises technology businesses on its own\nbehalf and for its clients. ANGLE is listed on AIM (AGL.L); further information\ncan be found on www.ANGLEplc.com\n\n\n\n This information is provided by RNS\n The company news service from the London Stock Exchange\n \n ","length":2568,"tagName":"div"}]