Completion of Strategic Revie

RNS Number : 9688M

Image Scan Holdings PLC

09 February 2009

 

9 February 2009

Image Scan Holdings plc

('Image Scan' or 'the Company')

Completion of Strategic Review

The Board of Image Scan, specialists in the field of real-time 3D and 2D x-ray imaging for Security and Industrial Inspection markets, advises that, following the strategic review announcement made on 30 September 2008, the Company's strategic review is now concluded.

The Board had appointed Grant Thornton to carry out a strategic review of all the options available to the Company in seeking a stable and growing platform for its business. The strategic review is now complete, as are the resultant internal restructuring and board changes.

The Board believes that with year to date sales of £143,000, the current order book of £940,000 provides a platform for growth.  It is felt that with the prevailing market conditions affecting the availability of funds for investment, attempts to seek a purchaser for the Company at this time would be unlikely to fully reflect the Company's potential. 

The Company is no longer in an offer period for the purposes of the City Code on Takeovers and Mergers.  

-ENDS-

For further information, please contact:

Image Scan Holdings plc                                                  Tel: [phone]

Gilbert Chalk, Chairman

Louise George, CEO

[e-mail]

Seymour Pierce                                                              Tel: [phone]

Richard Feigen

Sarah Jacobs

Bishopsgate Communications Ltd                                     Tel: [phone]

Jenni Herbert 

Siobhra Murphy

About Image Scan Holdings plc 

Image Scan Holdings plc (AIM: IGE) is focused on the development and commercialisation of market leading real-time 3D and 2D x-ray solutions for use in the global industrial and security inspection markets. The Company's industrial inspection solutions include the MDXi unit and the DEX systems. The security portfolio includes Axis-3d®, a unique 3D baggage inspection system for corporate and airport security, and FlatScan-TPXi, a portable bomb and suspect package detection system. 

Current Technology Portfolio

The Company's portfolio currently comprises of the following x-ray inspection systems: Axis-3d®; MDXi; FlatScan-TPXi and the DEX x-ray vision engine for OEM applications.  

For further information on the Company, please visit: www.ish.co.uk - and for further information on its products, please visit: www.3dx-ray.com

 

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