Image Scan Holdings PLC
11 October 2004
For Immediate Release 11 October 2004
IMAGE SCAN HOLDINGS plc
('Image Scan' or the 'Company')
Change of Corporate Advisors
and Refinancing Proposals
The Company announced that ARM Corporate Finance Limited has been appointed as
the Company's nominated advisor and Keith, Bayley, Rogers Limited has been
appointed as the Company's corporate brokers, both appointments being with
immediate effect.
The Company is also pleased to announce that an offer of £200,000 short term
funding has been accepted to provide the Company with sufficient time to raise
additional long term funding (the 'refinancing proposals') by way of a Rights
Issue and Placing of new equity on terms to be agreed.
In conjunction with the refinancing proposals the Board is conducting a full
review of costs and will implement cost savings where possible. The refinancing
proposals also contemplate a strengthening of the Board.
Contact details:
Mr Nicholas Fox, CEO 01664 503 600
Image Scan Holdings PLC
Mr Ian Fenn 020 7512 0191
ARM Corporate Finance Limited
Mr Howard Drummon 020 7871 2232
Keith, Bayley, Rogers & Co Limited
Mr Richard Darby
Buchanan Communications 020 7466 5000
This information is provided by RNS
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