FST.L Regulatory News (FST)

5 Dec 2006 17:18

Nanoscience Inc05 December 2006 5 December 2006 Nanoscience Inc. Notice of Extraordinary General Meeting Nanoscience Inc. (the "Company"), the specialist niche investor in emergingtechnologies with strong commercial propositions from within the growingnanotechnology sector, has today posted a circular to its shareholders conveningan extraordinary general meeting of the Company ("EGM"). The purpose of the EGMis to grant the directors the authority to allot equity securities for cashwithout offering those equity securities pro rata to existing shareholders, upto an aggregate nominal amount of £69,076, representing 15 per cent. of theCompany's issued ordinary share capital as at the date of this announcement. Nanoscience has made encouraging progress in 2006 with three of its investmentsmoving towards significant commercial activities. The Company is particularlypleased that Future Waves has secured a number of purchase orders for 2006 andthat Applied Sensor has signed its first contract with BMW. In addition, ToumazTechnology Limited is in negotiations with a number of companies to secureagreements into 2007. The Board is continually reviewing financing options for the Company and, atthis stage, believes that working capital is best obtained through the issue ofequity rather than commercial bank debt. Accordingly, the EGM is being convenedto grant the Board the authorities necessary to take advantage of marketconditions, as and when they present themselves, to raise working capitalthrough the fresh issue of equity. The Board considers that it is in the bestinterests of the Company and its shareholders generally, that the Company shouldhave the flexibility conferred by such authorities. The EGM will be held on 21 December 2006 at 11:00 a.m. GMT (12 noon CET) at 30Quai Gustave-Ador, 1207, Geneva, Switzerland. Pursuant to Rule 20 of the AIM Rules, a copy of the circular and notice of EGMare available for inspection at the Company's registered office at 30 QuaiGustave-Ador, 1207, Geneva, Switzerland. Further information: Richard RoseNanoscience07836 250 474 This information is provided by RNS The company news service from the London Stock Exchange