TIDMIGD
RNS Number : 4740M
IncaGold Plc
29 January 2009
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IncaGold plc (the "Company")
Statment re Share Price Movement and Trading Statement
The Board has noticed the recent increase in the Company's share price and can
confirm that the Company is not aware of any unusual reason for this share price
movement.
The Board, however, take this opportunity to provide an update on events since
31 October 2008, when shareholders approved a change in the scope of the
Company's activities to allow it to consider opportunities within the cosmetic
surgery insurance arena.
Following this approval from shareholders, the Directors commenced talks with a
U.K. based insurance underwriter operating in the healthcare arena. These talks
have recently been terminated by the Board, which has now instigated
discussions, with a second insurance underwriter with European wide coverage
that remain ongoing.
In Europe, the market for cosmetic surgery alone is estimated to be worth about
US$2.2 billion with a growth rate of 19% per annum (source: Frost & Sullivan).
Cosmetic surgery procedures are not generally covered by current healthcare
insurance products and the Board remains committed to pursuing opportunities to
launch specialised cosmetic surgery insurance products that seek to provide the
patient with financial protection against some of the consequences of a range of
possible complications of a wide variety of cosmetic surgery procedures going
wrong.
Late last year, the Company also made application to the Financial Services
Authority to be authorised and regulated to carry on general insurance business
and this application process continues.
The Company continues to operate in the publication of mass-market computer
games, entertainment and the like within the Company's wholly owned subsidiary
IncaGold GmbH based in Switzerland and will update the market separately on this
business activity.
The Board will make further announcements in due course.
Contact:
IncaGold plc
Justin Martin, Director
Tel: +44(0)1624 820040
Website: www.incagoldplc.com
Zeus Capital plc
Ross Andrews
Tom Rowley
Tel: +44(0)161 8311512
Website: www.zeuscapital.co.uk
This information is provided by RNS
The company news service from the London Stock Exchange
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