Image Scan Holdings PLC
02 September 2004
For Immediate Release 2nd September 2004
IMAGE SCAN HOLDINGS plc
Update regarding talks with strategic partner
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 investors' 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
This information is provided by RNS
The company news service from the London Stock Exchange