AGM Statement
04 Mai 2007 - 9:00AM
UK Regulatory
RNS Number:0787W
MDY Healthcare PLC
04 May 2007
4 May 2007
MDY Healthcare plc ("MDY Healthcare" or the "Company")
AGM STATEMENT
At today's Annual General Meeting, David Wong, Chairman of MDY Healthcare, will
make the following statement:
"Since repositioning the Company as an investment company specialising in the
healthcare sector, we have made good progress in executing our strategy.
"We have strengthened our executive team with the appointment of Charles Spicer
as CEO (previously head of healthcare corporate finance at both Numis and Nomura
International) and Dr. Robert Watson (previously of Sofinnova Partners). We
have also established an advisory panel of senior executives from the sector
(Brian Steer, Chairman of Gyrus Group plc, Jonathan Milner, CEO of Abcam plc and
Lawrence Kinet, previously of Smiths Group plc).
"We have made encouraging progress in building a diversified portfolio of
promising strategic investments. After a rigorous selection process, we have
now made five strategic investments: two of which are private US medtech
businesses (AOI Medical Inc. and Medivance Inc.) and three AIM-quoted UK
companies (Cozart plc, Minster Pharmaceuticals plc and Allergy Therapeutics
plc). We believe each of these companies is implementing its business plan
energetically and we will keep shareholders updated on progress. In addition,
we retain significant cash reserves and look forward to announcing further
investments in due course.
"As outlined in the circular to shareholders dated 29 March 2007, we believe the
proposed share consolidation and share dealing facility are the first steps
towards improving the trading performance of the Company's shares and their
attractiveness to a wider range of potential investors.
"In June, we will be announcing our interim results for the six months ended 31
March 2007 and we will update shareholders further at that time."
Contact
MDY Healthcare plc
Charles Spicer: +44 (0) 207 647 1800
Financial Dynamics
Ben Atwell/John Gilbert: +44 (0) 207 831 3113
For further details on MDY Healthcare please see our website -
www.mdyhealthcare.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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