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14 Feb 2013 07:00
14 February 2013
Plethora Solutions Holdings plc
("Plethora" or "the Company")
FINANCING UPDATE
In light of the recent decline in the Company's share price, and further to the announcement made on 5 February, Plethora provides the following update.
The Company is now in advanced discussions with a lead investor to provide a new equity financing to the Group with support also being sought from a number of additional institutional investors. At the same time, discussions are ongoing with the Company's three debt providers. The amount of the financing, if concluded, is expected to provide adequate funds to meet the central corporate costs and the regulatory costs of PSD502 through to the anticipated European approval date, a critically important milestone.
In respect of the strategic review of The Urology Company, the Company confirms this is ongoing. The intent of this review is to ensure the Company can fully devote its efforts to the Company's lead asset PSD502.
A further announcement will be made in due course.
-Ends-
Ronald Openshaw
Plethora Solutions Holdings plc, CEO Tel: 020 3077 5400
Daniel Stewart & Company plc
David Hart & James Felix Tel: 020 7776 6550
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