Bank Irel13.375 Regulatory News (BOI)

12 May 2005 12:09

Biotrace International PLC12 May 2005 For Immediate Release: 12 May 2005 BIOTRACE INTERNATIONAL PLC ("Biotrace", the "Group" or the "Company") AGM Statement Biotrace International Plc, a leading manufacturer and supplier of industrialmicrobiology and life science products, held its Annual General Meeting today at11am at the Company's Head Office in Bridgend, Wales. Following the meeting the Company's Chairman, Mr Terry Clements, issued thisstatement: "As reported in our preliminary statement in March this year, management ismaking solid progress in improving the financial performance of the Group.Operating margins have remained robust, despite an increasingly competitivetrading environment. The recent introduction of regional management andimprovements in product manufacturing are placing the Company in a strongercompetitive position to address the global market for industrial microbiologyproducts. Biotrace remains strongly cash generative and is well placed tofurther add value to our customers and shareholders. "We are pleased to announce that all resolutions proposed were duly passed,including a proposal to pay a final dividend to shareholders of 1.15p per share. This, together with the interim dividend of 0.25p, brings the total dividendfor the year to 1.40p, an increase of 22% on 2003. "We also announce today that Dr. Eurof Evans is retiring as a non-executivedirector of the Company. Eurof, 74, has been a non-executive director since1996, prior to which he was Company Chairman and helped steer Biotrace throughits successful flotation in November 1993." Ian Johnson, Chief Executive of Biotrace commented: "We are grateful to Eurof for the tremendous contribution he has made toBiotrace over the last 16 years. The Group has developed significantly duringthis time and we thank Eurof for his dedication, enthusiasm and expertise. Ispeak for the board when I wish Eurof our very best for the future." - ENDS - For further information, please contact:Biotrace InternationalIan Johnson, Chief Executive Officer Tel : +44 (0)1656 641 400Peter Morgan, Finance Director Buchanan CommunicationsTim Andersen / James Strong Tel: +44 (0)20 7466 5000 Notes to editors: Biotrace International Plc is a leading manufacturer and supplier ofmicrobiology instrumentation and test reagents to industrial, healthcare anddefence markets. Biotrace is the acknowledged leader in rapid hygiene testingand the continuous real-time detection of airborne biological weapons. Most of the world's leading food manufacturers and catering companies rely onBiotrace as an essential part of their quality procedures. Industrial customersalso include many of the world's largest water treatment chemicalmulti-nationals. Biotrace also supplies highly specialised workstations tohospitals, public health laboratories and medical research institutes for theexamination of micro-organisms and diseases. Since 1991 the Company hasmanufactured and equipment and reagents for the detection of biological weapons,which it supplies to the UK MoD, other foreign governments and large defencecontractors,. Formed in 1988 and floated on the London Stock Exchange in 1993, Biotraceintends to continue to broaden its business base through organic growth andacquisition of products and technologies to become a 'one stop shop' for itslarge and growing international customer base. This information is provided by RNS The company news service from the London Stock Exchange