Trading Statement

17 Jan 2008 07:01

Amphion Innovations PLC17 January 2008 Amphion Innovations plc Trading Update 17 January 2008 - Amphion Innovations plc (LSE: AMP) ('Amphion' or the'Company'), is pleased to announce that results for the 12 month period to 31December 2007 are expected to show an increase in Net Asset Value per Share of29% to $0.44 (£0.22), broadly in line with market expectations. Profit beforeTax is expected to be approximately $10.5 million, a 50% increase from theprevious year, primarily reflecting the uplift in the value of the investments. Amphion builds shareholder value in high growth companies in the medical andtechnology sectors, by using a focused, hands-on company building approach,based on decades of experience in both the US and UK. Currently there are 10Partner Companies developing proven technologies targeting substantialcommercial marketplaces, in excess of $1 billion. Each Partner Company aims toachieve a target exit value in excess of $100 million supported by Amphionmanagement team's strong track record of delivering liquidity events. During 2007, Amphion successfully helped its Partner Companies raise over $21million. Looking ahead, the Company expects to build on the substantial progress made in2007. Following a successful fundraising, WellGen is in a strong position tomeet its commercial objectives in 2008, having raised $9.5 million in October2007. Durham Scientific Crystals is also well placed following the signing of acontract with the UK Home Office in December 2007. The contract is to developits groundbreaking technology for digital x-ray imaging for use in both medicalapplications and airport security scanners to detect explosives and flammablematerial. Amphion is pleased to report that its Gulf based joint venture, MSA, has beenfully incorporated and capitalized. This will enable it to move forward with thecompany's business plan and to develop strategic partnerships for Amphion andits Partner Companies in the Gulf region. During 2007 Amphion continued to develop its two new Partner Companies, EnergyTrading International ('ETI') and DataTern Inc. ETI seeks to exploit the trendtowards automation of markets through the development of a proprietary(patented) platform for the automatic negotiation and execution of bilateral,structured trades. DataTern Inc. is being formed to develop and extract valuefrom the substantial and growing patented portfolio in Amphion's PartnerCompanies. The Company estimates that its Partner Companies have over 150individual pieces of intellectual property, double the amount at the time oflisting in August 2005. Amphion expects to announce its preliminary results for the 12 months to 31December 2007, in March 2008. Richard C.E. Morgan, Amphion's Chief Executive Officer, said: "During 2007,Amphion and our Partner Companies achieved several key milestones. We arefocused on creating shareholder value, and given the strength of our PartnerCompanies, we are very confident of being able to continue to deliver furthergrowth." For further information please contact: Amphion InnovationsCharlie Morgan:+1 (212) 210-6224 Cardew GroupTim Robertson/ Jamie Milton/Matthew Law:+44 020 7930 0777 Charles Stanley Securities, Nominated AdvisorMark Taylor/ Freddy Crossley:+44 020 7149 6000 On the web: www.amphionplc.com This information is provided by RNS The company news service from the London Stock Exchange