YGEN.L Regulatory News (YGEN)

13 June 2014

ViaLogy Plc

("Company")

Final Results

ViaLogy plc is pleased to announce its final results for the year ended 31 March 2014.

Our strategy and business review

The last 18 months have been dominated by a major step change in the strategy and direction of your company. In the spring and summer of 2013, it became increasingly obvious to the then Board of Directors that the Company's lack of commercial progress, due in the main to prolonged difficulties in gaining acceptance by major oil and gas companies for its core technologies, was a cause for serious concern. The incumbent board therefore decided that it was necessary, and in the best interests of shareholders, to restructure and refocus the operational organisation of the business.

At a general meeting of the Company in December 2013, I accepted the position of Chairman of ViaLogy with a remit to spearhead a completely new direction for the organisation. In a letter to shareholders I made it clear that the future investing policy would involve the acquisition of, or merger with, companies unrelated to ViaLogy's previous activities and chosen for their abilities to add strong shareholder value to the overall business. I am therefore delighted to inform you that today we announced a proposal, which is subject to shareholder approval, to (inter alia) acquire the entire issued share capital of a biotechnology company, Premaitha Health Limited ("Premaitha").

Premaitha employs next generation sequencing technology to develop, manufacture and sell molecular diagnostic products intended to have a major beneficial impact on human health. Its first product - the IONA® test - is designed to take advantage of a very significant change in the field of pre-natal medicine which is creating a multi-billion pound market for improved pre-natal screening tests. Subsequent products are expected to address other important health challenges such as cancer screening and monitoring and personalised healthcare. Further information about Premaitha can be found at www.premaitha.com.

As far as our oil and gas services business is concerned, I have to report that it is taking longer than anticipated to secure a suitable partner for ViaLogy Energy Company (VEC), where we have a 75% holding. To this end the board has decided to provide against the assets of VEC to reflect the fact that, as at the balance sheet date, no suitable partner had been found. The founder of the company, Dr. Sandeep Gulati, continues to pursue various avenues on our behalf and to enable him to concentrate on our US activities he has agreed to resign from the main Board of the Company.

Financials

For the year ending 31 March 2014, the consolidated financial statements accounts show a net loss of £4.9 million (2013: loss £4.7 million). The loss after tax and after adding back the non-cash items, depreciation and amortisation charge, share based payment expense and impairment of assets was £1.4 million (2013: £1.9 million).

In January 2014, ViaLogy raised a total of £1,620,000 (before expenses) through the placing of 1,619,820,122 ordinary shares at a price of 0.1p each with existing and new investors.

Adam Reynolds

Chairman 

Enquiries:

Consolidated income statement for the year ended 31 March 2014

Consolidated statement of changes in equity for the year ended 31 March 2014

Consolidated statement of financial position as at 31 March 2014

Consolidated statement of cash flows for the year ended 31 March 2014

Notes

1 Loss per share

Basic

Basic loss per share is calculated by dividing the loss after tax attributable to the equity holders of the parent company for the year of £4,933,443 (2013: loss £4,664,186) by the weighted average number of ordinary shares in issue during the year 2,014,231,609 (2013: 921,224,058).

Diluted

Diluted earnings per share dilute the basic earnings per share to take into account share options and warrants. The calculation includes the weighted average number of ordinary shares that would have been issued on the conversion of all the dilutive share operations and warrants into ordinary shares. 261,916,546 options (2013: 125,535,913) and nil (2013: 38,693,654) warrants have been excluded from this calculation as the effect would be anti-dilutive.

2 This announcement does not constitute full accounts within the meaning of section 434 of the Companies Act 2006 but is derived from the audited accounts for the year ended 31 March 2014 for which an unqualified audit report has been received. The statutory accounts for the year ended 31 March 2014 will be delivered to the Registrar of Companies.

3 The Annual General Meeting (AGM) of ViaLogy plc will take place at a later date and the Notice of the AGM and related papers, including the statutory accounts, will be sent to shareholders at least 21 working days before the meeting.

4 While the information included within this announcement has been prepared in accordance with the recognition and measurement criteria of International Financial Reporting Standards (IFRS), as adopted by the European Union (EU), it does not in itself contain sufficient information to comply with IFRS.