Aortech International PLC
9 May 2001
AORTECH INTERNATIONAL plc
EGM Statement
At the Extraordinary General Meeting of AorTech International held today the
Chief Executive Eddie McDaid said:
'With our move to the Official List of the London Stock Exchange and the
successful placing of the share issue we now have sufficient funds to allow us
to further develop and commercialise our exciting range of technologies.
'Nomura, who fully underwrote this offer, have raised together with Bell
Lawrie White approximately £20 million gross for the company. The Placing and
Open Offer was well supported by our present shareholders and we are grateful
to them for their support. AorTech's move to the Full List will heighten our
company's profile and aid the marketability of the shares particularly
internationally.
'In conjunction with our exciting technology base, we now have a strong
financial base, with funds to support our activities for over two years and
this will allow us to continue to take advantage of the market opportunities
available. Sales and marketing of TruCCOMS commenced in January, 2001 and the
product has been well received in the market.
'The first Licence and Supply Agreement for the Elast-Eon material has been
signed with Jomed, a major European Cardiovascular company and further
Material Evaluation Agreements have been signed.
'Continued progress is being made on the revolutionary Tri-leaflet Heart Valve
with clinical trials in patients due to commence in 2002.
'Progress is being made on all fronts with all our projects on schedule. Our
World leading technologies offer tremendous potential for the company.'
All resolutions proposed at the EGM were duly passed.
9th May 2001
Enquiries:
AorTech International plc Tel: 01698 746699
Eddie McDaid, Chief Executive
College Hill Tel: 020 7457 2020
Michael Padley/Nicholas Nelson
Copies of the statement will be available at the Company's registered office:
Phoenix Crescent, Strathclyde Business Park, Bellshill, Scotland ML4 3NJ