RNS Number:5048S
IDMoS plc
16 April 2008
16 April 2008
IDMoS plc
Offer talks terminated, appointment of Administrator, update on financial
position of the Company and resignation of Nomura Code Securities Limited as the
Company's nominated advisor
IDMoS plc (AIM: IDO) ('IDMoS' or the 'Company')
Further to the announcement by IDMoS on 8 February that it was contemplating a
range of transactions including an offer for the entire share capital of the
Company and the confirmation on 20 February that the Board were actively
pursuing all opportunities including seeking buyers for the entire issued share
capital of the Company, the Board of IDMoS confirms that the parties have been
unable to reach agreement and that offer discussions have now been terminated.
As a result, the board has taken advice and no longer believes that the Company
is in a position to continue its commercial operations. Colin Dempster and
Andrew Davison of Ernst & Young LLP, were today (April 16, 2008), appointed
Joint Administrators of the Company and they will now seek to find a buyer for
the business and assets including the Cariescan product and underlying
technology.
The Company's Nominated Advisor, Nomura Code Securities Limited has terminated
its existing contract with the Company, effective today.
For further information please call:
Press Enquiries
Dee Campbell, Ernst & Young LLP Media 0131 777 2382 / 07816 761 240
Relations
Interested Party Enquiries
Euan Campbell, Ernst & Young LLP 0141 626 5574 / 07917 174 022
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCFGGMDVVZGRZM
|