15 Dec 2011 07:00
For immediate release | 15 December 2011 |
3D Diagnostic Imaging plc
("3D" or the "Company")
Trading Update, Appointment of Non-Executive Director and Change of Nominated Adviser
Trading Update
3D, a leading provider of Integrated Caries Management Support Systems, today provides a trading update. Turbulent economic conditions have continued to have a negative impact on revenue generation in the first half of the current financial year. However, the Company is taking steps to counter this. It has recently recruited a new professional sales resource to increase the level of engagement with its various distribution partners and the Board has devised, and is implementing, a series of sales initiatives which it expects to begin to benefit from by the end of the first quarter of 2012. In addition the Board is giving consideration to the possibility of partnering with other entities that have more established distribution infrastructures in the countries in which the Company is seeking to operate.
The Company also continues to examine alternative applications for its technology as a means to generate additional shareholder value.
It is the Board's current intention to provide the market with a further update on the Company's progress at, or around the end of, the first quarter of 2012.
Appointment of Non-Executive Director
The Board of 3D is pleased to announce the appointment of David Snow to the board as a Non-Executive Director of the Company with immediate effect. Mr Snow, who has a number of years of public company experience, also serves as a Non-Executive Director on the board of the Company's largest shareholder, Evolve Capital plc. Further information on David Snow, in accordance with the AIM Rules for Companies, is set out at the end of this announcement.
Change of Nominated Adviser and Broker
The Board of 3D is also pleased to announce the appointment of Allenby Capital Limited as the Company's Nominated Adviser and Broker, with immediate effect.
ENDS
For further information please contact:
3D Diagnostic Imaging Plc
Graham Lay, CEO +44 (0) 1382 560 910
Oliver Cooke, CFO
Allenby Capital Limited
(Nominated Adviser and Broker)
Nick Naylor +44 (0) 203 328 5656
Nick Athanas
Buchanan Scotland
Diane Stewart +44 (0) 131 226 6150 / (0) 207 466 5000
Carrie Clement
Karyn McShane
Regulatory Disclosures:
The following matters are disclosed in accordance with the AIM Rules for Companies.
David Wallace Ballintine Snow, aged 50, is or has been a director of the following companies in the past five years:
Current Directorships or Partnerships
Impact Print & Design Limited
Evolve Capital plc
Twenty 4 Seven Security Systems Limited
S & A Group Holdings Limited
Rowan Dartington & Co Limited
Rowan Dartington Holdings Limited
Spotted Richard Limited
Hereford City Partnership Limited
Herefordshire Country Fair
Past (
Blue Oar plc
LPD European Limited
Astaire Group plc
Astaire Group Limited
David Snow currently has no interest in the share capital of 3D.
There are no further disclosures to be made in relation to Mr Snow under Schedule 2(g) or rule 17 of the AIM Rules for Companies.