Mercia Asset Regulatory News (MERC)

3 Apr 2006 07:02

Castor Investments Plc03 April 2006 Castor Investments plc ("Castor" or the "Company") 3 April 2006 Update on trading The Directors of Castor Investments plc ("Castor") note that trading in theCompany's shares has been suspended today. In accordance with the strategy of Castor set out in its AIM admission document,the Directors continue to actively seek the acquisition of one or more relatedbusinesses in the UK or Europe in the healthcare/life sciences or supportservices sectors. In February 2006, Castor agreed to subscribe for 1,250,000 ordinary shares of 1pence each ("Phynova Shares") in a pre-IPO placing in Phynova Group plc("Phynova"), a developer of pharmaceutical drugs mainly derived from medicinesapplied in clinical use in China, for a total consideration of £750,000, whichrepresents a holding of approximately 8.45 per cent. of Phynova. The board ispleased to report that, as at the close of business on 31 March 2006, thisinvestment was worth £1,250,000. The Company maintains a cash balance of£251,966. The board expect to be in a position to update shareholders regarding a suitableacquisition within the next 6 months. Enquiries: Castor Investments PlcDavid Barton (Chairman) Tel: 020 7584 9256 Teather & Greenwood LtdStephen Austin/Harry Nicholas Tel: 020 7426 9000 This information is provided by RNS The company news service from the London Stock Exchange