Neometals Regulatory News (NMT)

10 Feb 2006 15:13

NMT Group PLC10 February 2006 10 February 2006 NMT Group plc ("the Company") Review of Existing Business Following the EGM in September 2005, the Board has conducted a review of theCompany's existing business and operations in order to determine how best tomaximise value for shareholders. The review involved examining the Company's existing customer pipeline as wellas identifying and visiting potential outright acquirers of the Company'sproducts and its intellectual property. Discussions with some parties areongoing. At the same time a review of the Company's costs has been carried out.Significant reductions have been made to the Company's overheads. On 31 Januarywe announced that Graham Crowther, the Company's Chief Executive Officer haddecided to leave the Company today to take up a new post elsewhere. Theremainder of the staff will leave the Company by no later than the end of April2006 and the Livingston office closed by mid-July 2006. Net Assets The Company's balance sheet remains strong with un-audited cash per share of 70pand un-audited net assets per share of 69p as of 31 December 2005. Future Strategy The Board has concluded that it is not in the interest of shareholders tocontinue investment in the safety syringe business since there is no likelihoodof near or medium-term customers for the Company's existing oryet-to-be-developed products. In addition, there is insufficient cash remainingin the Company to build a foreseeable profit stream through investment on thelonger term. As a result it is the Board's intention that the Company become an investmentcompany. The investment strategy of the Company will be put to shareholders indue course. Enquiries: NMT Group PLC Jonathan Lander 020 7979 7574Shore Capital & Corporate Limited Guy Peters 020 7408 4090 This information is provided by RNS The company news service from the London Stock Exchange