Directors Receive Shares in Lieu of Fees

London and New York, 18 May 2010 - Amphion Innovations plc (LSE: AMP), the developer of medical and technology businesses, today announces that, at a Board meeting held on 13 May 2010, the Company has issued 162,838 ordinary shares, representing 0.12% of the enlarged issued share capital, to certain of its Board members, as their directorsí fees for the first quarter to 31 March 2010, priced at 15.30p, being the average of the closing mid-market price for the five days leading up to the market close on 31 March 2010. Following this issue, the directorsí shareholdings in the Company are as follows:

Director Number of New Shares Total Shareholding Percentage of voting rights
Richard Mansell-Jones 54,688 3,322,056 2.51%
R. James Macaleer 58,150 22,591,092 17.03%
Gerard Moufflet 50,000 200,000 0.15%

In addition, Board member Richard Mansell-Jones has used part of his directorsí fees for the third quarter to 31 December 2009, to subscribe to the convertible promissory note offering for a total of £8,231. 

Director New Promissory Note Total Holding of Promissory Notes Conversion Price New Warrants Total Warrants
Richard Mansell-Jones £8,231 £29,874 18p 9,137 33,161

The Convertible Promissory Notes are convertible between 31 December 2008 to 31 December 2013 into fully paid Ordinary Shares of 1 pence each in the capital of the Company at a conversion price of 18 pence per Ordinary Share and pay interest of 7 per cent annually until conversion. In addition, for each Note issued, the Company also issued 1.11 warrants to each subscriber of the Notes, a ratio of one warrant for every five shares issuable upon conversion. Each warrant will entitle the holder to subscribe for one Ordinary Share at 20 pence per Ordinary Share.

Admission of the 162,838 new ordinary shares, ranking pari passu with the existing ordinary shares, is expected on 21 May 2010. Following this allotment the total issued share capital of the Company will increase to 132,588,923ordinary shares with each share holding one voting right. 

For further information please contact: 

Amphion Innovations
Charlie Morgan:
+1 212 210-6224 

Charles Stanley Securities, Nominated Advisor
Mark Taylor:
+44 020 7149 6000 

Cardew Group
Tim Robertson/ Jamie Milton
+44 020 7930 0777 

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