Amphion Innovations plc
17 January 2008 - Amphion Innovations plc (LSE: AMP) (‘Amphion’ or the ‘Company’), is pleased to announce that results for the 12 month period to 31 December 2007 are expected to show an increase in Net Asset Value per Share of 29% to $0.44 (£0.22), broadly in line with market expectations. Profit before Tax is expected to be approximately $10.5 million, a 50% increase from the previous year, primarily reflecting the uplift in the value of the investments.
Amphion builds shareholder value in high growth companies in the medical and technology sectors, by using a focused, hands-on company building approach, based on decades of experience in both the US and UK. Currently there are 10 Partner Companies developing proven technologies targeting substantial commercial marketplaces, in excess of $1 billion. Each Partner Company aims to achieve a target exit value in excess of $100 million supported by Amphion management team’s strong track record of delivering liquidity events.
During 2007, Amphion successfully helped its Partner Companies raise over $21 million.
Looking ahead, the Company expects to build on the substantial progress made in 2007. Following a successful fundraising, WellGen is in a strong position to meet its commercial objectives in 2008, having raised $9.5 million in October 2007. Durham Scientific Crystals is also well placed following the signing of a contract with the UK Home Office in December 2007. The contract is to develop its groundbreaking technology for digital x-ray imaging for use in both medical applications and airport security scanners to detect explosives and flammable material.
Amphion is pleased to report that its Gulf based joint venture, MSA, has been fully incorporated and capitalized. This will enable it to move forward with the company’s business plan and to develop strategic partnerships for Amphion and its Partner Companies in the Gulf region.
During 2007 Amphion continued to develop its two new Partner Companies, Energy Trading International (‘ETI’) and DataTern Inc. ETI seeks to exploit the trend towards 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 value from the substantial and growing patented portfolio in Amphion’s Partner Companies. The Company estimates that its Partner Companies have over 150 individual pieces of intellectual property, double the amount at the time of listing in August 2005.
Amphion expects to announce its preliminary results for the 12 months to 31 December 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 are focused on creating shareholder value, and given the strength of our Partner Companies, we are very confident of being able to continue to deliver further growth.”
For further information please contact
Amphion Innovations plc
Charlie Morgan, Director of Communications
+1 (212) 210-6224
Tim Robertson / Jamie Milton / Matthew Law
+44 020 7930 0777
Charles Stanley Securities, Nominated Advisor
Mark Taylor / Freddy Crossley:
+44 020 7149 6000
About Amphion Innovations plc
Amphion Innovations plc (LSE: AMP) builds shareholder value in high growth companies in the medical and technology sectors. Amphion uses a focused, hands-on company building approach based on decades of experience in both the US and UK.
On the web: www.amphionplc.com