Change of Adviser

RNS Number : 4934G

Immersion Technologies Intl PLC

23 October 2008

 



23 October  2008

Immersion Technologies International plc

('Immersion' or 'Company')

Appointment of Nomad

Immersion is pleased to announce that Beaumont Cornish Limited has been appointed Nomad with immediate effect.

Update on Operations

In line with current market conditions and the fact that the Company is not currently achieving forecasted sales from the Nakamitchi contract, the Company has significantly reduced its cost structure with the closure of the Singapore sales office, China manufacturing facility and streamlined headcount at its Melbourne R&D centre. Immersion will keep a prototype facility in China to service its client's prototype and pre-production samples.

However, the Company continues to advance its sales and marketing strategy by displaying its products at trade shows. Immersion participated at the IFA show in Berlin in September and last week was in Seoul at the Korea Electronics Show where it is displaying its latest electrostatic panels and low frequency conventional-cone technology for use with flat panel TV's.

-Ends-

For further enquiries:

Immersion Technologies International plc
David Lenigas/Kiran Morzaria	[phone]
Pelham Public Relations
Archie Berens	[phone] /  [phone]
St. Helens Capital plc - Nominated Broker
Ruari McGirr	[phone]
Beaumont Cornish Limited - Nominated Adviser
Roland Cornish	[phone]

 

END

 

 

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