ATD Bioseek

TIDMATD

RNS Number : 2031G

Asterand PLC

26 June 2012

26 June 2012

Asterand plc

("Asterand" or the "Company")

Adjournment of Annual General Meeting

The Company announces that its annual general meeting, which was convened for today, has been adjourned and will now take place immediately prior to the general meeting which is to be convened to discuss the proposed disposal of the Human Tissue Business, as announced on 11 June 2012 (the "Disposal"). This adjournment was referred to in the announcement of the Disposal on 11 June 2012.

Jack Davis, the Company's Chairman and Interim Chief Executive Officer, said: "We recognise the importance of what is being proposed and we believe that the posting of the circular to shareholders, which is expected to occur in due course, and the adjourning of the annual general meeting to the same day as the general meeting, to be convened to discuss the Disposal, will enable a full discussion to occur to the benefit of shareholders."

Since the Interim Management Statement announced on 19 May 2012, trading conditions have remained challenging and the ongoing financial constraints have prevented the necessary investment in future growth. As a result, the growth outlook for the Company is diminished in the short term. The Board believes that the Disposal, in assisting to alleviate the current financial constraints, will leave the Company in a stronger financial position overall and better placed for the future.

For further information, please contact:

 
 Asterand plc 
 Jack Davis, Chairman               Tel: + 44 (0) 1763 
  and Interim Chief Executive      211 600 / + 1 (313) 
  Officer                                     263-0960 
 Alan Fishman, Interim                        As above 
  Chief Financial Officer 
 
 Daniel Stewart & Company 
  Plc 
 Antony Legge                     Tel: +44 (0) 20 7776 
  Matt Wilson                                     6550 
 
 Beaumont Cornish Limited 
  - Sponsor 
 Roland Cornish                   Tel: +44 (0) 20 7628 
  Emily Staples                                   3396 
 
 Covington Associates 
  LLC 
 Steven Mermelstein             Tel: +1 (914) 420-4510 
  David Wood 
 
 

A copy of this announcement will be available at www.asterand.co.uk. The content of the website referred to in this announcement is not incorporated into and does not form part of this announcement.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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