Disposal
11 Juli 2003 - 11:03AM
UK Regulatory
RNS Number:4426N
Lombard Medical PLC
11 July 2003
11 July 2003
For immediate release
Lombard Medical plc
Sale of DMC Medical Limited and AME Medical Limited
Lombard Medical plc ("Lombard Medical" or the "Company") announces that on 8
July 2003 it entered into separate agreements to dispose of the entire issued
share capitals of DMC Medical Limited ("DMC") and AME Medical Limited ("AME").
Pursuant to rule 10 of the AIM Rules, the sale of DMC falls to be disclosed as a
substantial transaction but the sale of AME does not.
DMC, based in Shannon, Republic of Ireland, manufactures and distributes a range
of cardiovascular accessories. In the year ended 30 September 2002, DMC achieved
sales of approximately #202,000 and a loss before tax of approximately #173,900.
At 30 September 2002, DMC had net liabilities of approximately #251,200. The
cash consideration receivable by Lombard Medical on the sale of DMC is #1.
The effect on the Company of the sales of DMC and AME is to terminate any
involvement of the Company in the distribution of non-core cardiovascular
products. Following these disposals, the Company's focus is that of research
and development in the areas of graft stents, staples and coatings principally
for minimally invasive cardiovascular surgical applications.
Enquiries:
Simon Stock
Director
020 7710 4500
This information is provided by RNS
The company news service from the London Stock Exchange
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