Neometals Regulatory News (NMT)

22 Jul 2005 18:08

Volvere PLC22 July 2005 Volvere PLC ("Volvere" and "the Company") 22 July 2005 Substantial Transaction Volvere PLC announces today that it has accumulated over the period sinceOctober 2004 a holding of 1,447,893 ordinary shares of £4 each in NMT Group plc("NMT") representing 16.62% of the total issued ordinary share capital of NMT,acquired for an aggregate cash consideration of approximately £847,000. NMT is a licensing and development company for safety needle-based medicaldevices. For the year ended 31 December 2004 NMT's preliminary results showed aloss after tax of £1,738,000 on sales of £nil. At 31 December 2004 NMT's netassets amounted to £7,259,000, of which cash represented £7,005,000. The Company considers its shareholding in NMT to represent an attractive investment opportunity. For further information:Volvere plcNick Lander, Chief Operating and Financial Officer020 7979 7596 This information is provided by RNS The company news service from the London Stock Exchange