Last checked at 11 Mar 2013 07:00
11 March 2013
PLANT HEALTH CARE PLC
("Plant Health Care" or "the Company")
Market Update
Plant Health Care (AIM:PHC), a leading provider of naturally derived products to the agriculture industry, announces that the Board has conducted a review of its partnership discussions and is providing the following update.
Partnerships are an important source of future revenue for PHC. We are involved in multiple discussions with industry partners who are interested in commercialising our products and intellectual property, and in particular our Harpin and Myconate platforms. PHC remains confident that it can deliver substantial value to shareholders through the successful implementation of its partnership agreements. Nonetheless, the Board recognises that the precise timing of agreements and revenues can be subject to a number of uncertainties because of factors such as the outcome of field trials and the progress of registration processes for new products.
The Board has resolved to adopt a more cautious approach to budgeting for future revenues from its partnership discussions. We believe this should give investors a better understanding of PHC's prospects in the short and medium terms.
In accordance with this new policy, we are today announcing that:
A further update will be made as part of the Company's 2012 full year results, expected by the end of March 2013.
For further information, please contact:
Plant Health Care plc |
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John Brady, Chief Executive Officer | +1 603 525 3702 |
jabrady@planthealthcare.com |
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Stephen Weaver, Finance Director | +1 412 826 5488 |
sweaver@planthealthcare.com |
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Nomura Code Securities | +44 (0) 20 7776 1200 |
Clare Terlouw / Chris Golden |
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www.nomuracode.com |
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Powerscourt | +44 (0) 20 7250 1446 |
Paul Durman / Nick Dibden / Sophie Moate |
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About Plant Health Care: Plant Health Care plc (AIM:PHC) is a leading provider of patent-protected, environmentally-beneficial biological products aimed at the agriculture industry. Through the commercialisation of these products, Plant Health Care is capitalising on current long-term trends towards natural systems and biological products for plant care and soil and water management. www.planthealthcare.com
About Myconate: Myconate is a patented, synthetic compound, which encourages plant growth by stimulating existing mycorrhizal fungi in the soil and creating a larger root mass. Years of successful field testing has proven that Myconate can increase crop yields by up to 30%, depending on crop and location. Dalgety Agra Polska expects Myconate to become a standard element of farmer's seeding and planting programmes in Poland.
About Dalgety Agra Polska: Dalgety Agra Polska is a subsidiary of Origin Enterprises (AIM:ESM) and provides agronomy advice, products and solutions to farm businesses throughout Poland. The business combines an extensive arable research and development capability with a major sales, marketing and distribution focus, delivering a superior advisory and inputs offering to leading growers. Dalgety Agra Polska is a leading supplier of seeds, agronomic advice and agrochemicals, also acting as seed merchants for the finished crop. The company has operations throughout Poland. http://www.originenterprises.com/our-businesses/dalgety.asp